pretest-abm

IT IS WHERE THE CONSUMER BUYS AND THE SELLER SELLS.

• MARKET

• DEMAND

• HOUSE

if an individual likes the good, the greater is his demand for it.

• Income

• Taste

• Supply

The desire to have some good or service and the ability to pay for it

• equilibrium

• supply

• demand

As the price increases, the demand decreases. As the price decreases the demand increases.”

• TRUE

• FALSE

• MAYBE

a graphical representation that shows the relationship between theprice of a good and the quantity demanded for that goodat a given price

• DEMAND FUNCTION

• DEMAND CURVE

• DEMAND SCHEDULE

If the price of goods or services decreases, consumer will also decrease.

• FALSE

• TRUE

Ceteris Paribus means

• Let alone

• all other things being equal

• Not the same

at lower prices, individual has greater purchasing power

• TRUE

• FALSE

A SUCCESSFUL ADVERTISEMENT CAN CAUSE AN INCREASE IN THE DEMAND FOR THE PRODUCT.

• FALSE

• TRUE

refers to a table showing the relationship between pricing and the quantity of demand

• DEMAND CURVE

• DEMAND FUNCTION

• DEMAND SCHEDULE