Social studies 9 2nd QTR Reviewer

Refers to the number of goods and services that consumers are willing and able to buy at alternative prices at a given period of time

• Demand

• Demand Function

• Demand Schedule

• Demand Curve

It is a mathematical expression of the relationship of two variables

• Demand

• Demand Function

• Demand Schedule

• Demand Curve

The table showing the units of the products, which the consumer is willing and able to buy at alternative prices.

• Demand

• Demand Schedule

• Demand Curve

• Demand Function

Is a graphical representation of inverse relationship of price and quantity demanded, which the consumer is willing to buy.

• Demand Curve

• Demand

• Demand Function

• Demand Schedule

states that as the price of good or service increases, the quality of the product or service the buyer is willing to buy decreases, and if the price of the good or service decreases, the quality of good or service the buyer is willing to buy increases.

• Law of demand
• Law of scarcity
• Law of equilibrium
• Law of supply

is the combination of all demands of consumers in the market

• Market demand
• Individual demand
• Supply
• Price elasticity

Producers take into consideration the cost of producing the goods they would like to supply in the market.

• Cost of production
• production

• Expense of production
• Value of production

This refer to assistance provided by the government to small-scale  businessmen and farmers to enable them to produce more products

• Tax breaks
• Import tariffs
• Minimum wage laws
• Subsidy

•affects the production of goods especially agricultural products.

• global warming
• deforestation
• ozone depletion
• Weather/Climate

The use of modern machineries and technical knowledge in the production of goods help the producer provide sufficient supply in the market. Modern machineries speed up production processes and increase output.

• Technology

• Weather

• Subsidy

• Cost of Production