Microeconomics

It studies how prices of land, labor, and capital are determined, and how these prices are used to allocate scarce resources.

• Demand

• Supply

• Economics

• Microeconomics

It is the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services.

• Demand

• Supply

• Economics

• Microeconomics

This type of economic system allows private entities to amass a lot of economic power, particularly those who own resources of great value.

• traditional system

• Market System

• Mixed System

• Command System

What is the study of decisions made by people and businesses regarding the allocation of resources, and prices at which they trade goods and services?

• Microeconomics

• Macroeconomics

• Economics

• Supply and Demand

This type of economic system is also known as dual system.

• Traditional System

• Market System

• Mixed System

• Command System

The law that governs the relationship between the quantity demanded and the price.

• The Law of Supply

• The Law of Demand

• The Law of Goods

• The Law of Services

Which economic system allows private entities to amass a lot of economic power, particularly those who own resources of great value?

• Traditional System

• Market System

• Capitalist System

• Command System

This law states that a higher price leads to a higher quantity supplied and that a lower price leads to a lower quantity supplied.

• Law of Supply

• Law of Goods

• Law of Demand

• Law of Suppliers

This graph portrays the data that has been detailed in a demand schedule.

• Demand Curve

• Supply Curve

• Demand Schedule

• Demand Curve

This represents the point where supply and demand curves intersect.

• Equilibrium

• Market Equilibrium

• Market Dynamics

• Demand Equilibrium