the higher the income the more demand there will be.

(a)  

favorable change because of

advertisement and fashion which leads to increase in demand.

(a)  

Increase in populations , increase in demand abounds.

(a)  

related goods are those

substitute or complimentary goods.

(a)  

are those that give the same value but differ in price,

brand, form or shape that give the same value but differ in price

(a)  

are goods that go hand in hand or always

together.

(a)  

As there will be an increase in the

price of a commodity the natural reaction is for people to buy more today

to save.

(a)  

Since credit cards are already used

as medium of exchange, people are tempted to demand more because of

easy terms of payment.

(a)  

if there is a natural resources, typhoon and

change in weather conditions demand for commodities are affected.

(a)  

As the price increases, the consumers are not willing to buy

more decreasing quantity demanded or as the price

decreases the consumers are more willing to buy, increasing

the quantity demanded.

(a)  

refers to the willingness of the people to sell

or produce the goods regardless whether it is a

need or a want over a period of time at a given

price.

(a)  

As the price increases, the producers are willing to

sell more, increasing quantity supply or as the price

decreases the producers are not willing to sell more ,

decreasing the quantity supply.

(a)  

derived from the supply

schedule, plots these points on a graph,

typically sloping upwards from left to right,

indicating that as prices increase, the

quantity supplied also increases.

(a)  

Increase in the price of goods especially

raw materials will discourage producers to produce more.

(a)  

The higher cost of production like

raw materials, labor and electricity will decrease number of

supplied products.

(a)  

There will be shortage of

supply once the raw materials needed for the production is

not obtainable.

(a)  

An increase in supply is due to a lot

of sellers involved in the market.

(a)  

the fast increase of supply of goods and services are

indebted to the advance technology around.

(a)  

The imposition of low taxes will encourage producers to

sell more while a high tax will discourage producers to supply more.

(a)  

These are help extended by the government to motivate

the business firm to do business like promotion and advertisement for

favored business.

(a)  

Suppliers are affected by what weather

and natural calamities will bring

to the country in a year especially agricultural crops. (drought)

(a)  

a point where the sellers and the

consumers agree to pay the price of the commodity. It is

actually the point of the intersection and where demand is

equal to supply.

(a)  

It is the price where the

buyers are willing to buy and the price of the seller’s

willingness to sell.

(a)  

the maximum price to be imposed by the sellers

to its commodity.

(a)  

the minimum price to be imposed by the sellers.

(a)  

are the things that will give us the state of

ease and contentment. ( satisfaction)

(a)  

are the things that we must have for us to

live like food, clothing or shelter.

(a)  

refers to the willingness of the

people to buy or purchase the goods regardless

whether it is a need or a want over a period of

time at a given place.

(a)  

is the total market value of all goods and services produced within

a country’s borders during a specific period. It includes the production

output of both citizens and non-citizens within those borders.

(a)  

measures the total market value of all goods and

services produced by the residents of a country, regardless of where they

are located.

(a)  

The theory states that economic

growth is the result of three

factors—labor, capital, and technology.

While an economy has limited

resources in terms of capital and labor,

the contribution from technology to

growth is boundless

(a)  

INTRODUCE NEOCLASSICAL ECONOMICS

(a)