REYMAR R SARSOZA

It refers to the ability and willingness of the consumers to purchase.

• SUPPLY

• DEMAND

• MARKET

• EQUILBRIUM

It refers to the willingness and ability of the producers to produce

• SUPPLY

• DEMAND

• MARKET

• EQUILIBRIUM

The type of good that is inversely related to income.

• SUBSTITUTE

• COMPLEMENTARY

• NORMAL

• INFERIOR

What might have caused the change in supply and demand?

• DETERMINANTS

• PRICE

• QUANTITY

• MOVEMENT

The presence of African Swine Flu in the Philippines will most likely shift the demand curve for pork to the (right, left) and (increase,decrease)

The issue on West Philippine Sea would most likely shifts the supply of fish to the (left, right) and (decrease, increase)

The other term for excess demand

The other term for excess supply

For substitute goods, the increase in the price of good Y will _________ the demand for product X

For complementary goods, an increase in the price of good Y will result to ______ in the demand for product X