Posted by Taylor on Thursday, May 14, 2009 at 9:12pm.
Could you please check this
Directions: Match each item with the correct statement.
Here are the words:
law of supply
1. principle that suppliers will normally offer more for sale at higher prices and less at lower prices
Answer: law of supply
2. combined supply schedules of all businesses providing the same good or service
Answer: market supply
3. methods or procedures used to make products
4. lowering these helps increase supply
5. measures how the quantity supplied changes in response to price changes
Answer: supply elasticity
6. goverment maximum price charged for goods and services
Answer: price ceiling
7. product for which quantity varies little when prices increase or decrease
Answer: supply inelastic
Economics - economyst, Friday, May 15, 2009 at 8:49am
I agree on all seven
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