iPhone and Galaxy are

substitute products, related product

what's the law of demand

price up, demand down; price down demand up

There is a product shortage when

when quantity supplied is smaller than quantity demanded

what's the law of supply?

price up, supply up; price down, supply down

an economic system is a

a way to allocate resources and products

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Demand and supply

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Demand and supply

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Questions 17

Answers

1
oil is a
capital resource
labour resource
natural resource
2
iPhone and Galaxy are
substitute products
related product
complementary products
inferior goods
3
When income rises
demand goes down
demand goes up
supply goes down
supply goes down
4
a doctor is a
capital resource
natural resource
labour resource
enterprise resource
5
When the price of a substitute good rises
demand rises
supply rises
demand drops
6
what's the law of demand
price up, demand down; price down, demand down
price up, demand up; price down, demand up.
price up, demand down; price down demand up
price up, demand up; price down , demand down
7
a business owner is a
natural resource
capital resource
labour resource
enterprise resource
8
milk and cornflakes are:
services
substitute products
labour resources
complementary products
9
supply and demand stabilise at a point of
equinumerity
equilateral
equilibrium
equivalence
10
a printing machine is a
enterprise resource
natural resource
capital resource
labour resource
11
There is a product shortage when
quantity demanded is greater than demand
when quantity supplied is smaller than quantity demanded
when quantity demanded is smaller than quantity supplied
when supply and demand are unequal
12
which of these is a capital resource
teachers
books
oil
machines
13
what's the law of supply?
price up, supply down, price down, supply down
price up, supply down; price down, supply up.
price up, supply up; price down, supply down
price up, supply up; price down, supply up
14
When the number of suppliers rises
supply rises
supply drops
demand drops
demand rises
15
an economic system is a
a way the market sets the price
a way to allocate resources and products
way the government manages the economy
16
when the price of resources goes up
supply goes down
demand goes up
supply goes up
demand goes down
17
which of these is a need
chocolate
coffee
shoes
paper

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