LATEST QUESTIONS AND
ANSWERS|ALREADY GRADED A+
Householdsf-fCORRECTfANSWER-
Sellffactorsfoffproductionfandfconsumerfgoodsfandfservices
Firmsf-fCORRECTfANSWER-
Sellfgoodsfandfservicesfandfconsumeffactorsfoffproduction
LawfoffSupplyf-fCORRECTfANSWER-
Asfpricefincreasesfquantityfsuppliedfincreases
LawfoffDemandf-fCORRECTfANSWER-
Asfpricefincreasesfquantityfdemandedfdecreases
Supplyf-fCORRECTfANSWER-
Thef#foffgoodsforfservicesfafproducerfisfwillingftofsupplyfatfeachfprice
Demandf-fCORRECTfANSWER-
Thef#foffgoodsfandfservicesfafconsumerfwillfdemandfatfeachfprice
QuantityfSuppliedf-fCORRECTfANSWER-
Thef#foffgoodsfandfservicesfafproducerfisfwillingftofsellfatfafgivenfprice
QuantityfDemandedf-fCORRECTfANSWER-
Thef#foffgoodsfandfservicesfafconsumerfwillfpurchasefatfafgivenfprice
Equilibriumf(MarketfClearingfPrice)f-fCORRECTfANSWER-
Thefpricefatfwhichfquantityfsuppliedfandfquantityfdemandedfmeet
DeterminantsfoffSupplyf-fCORRECTfANSWER-
ProductionfCost,fTechnology,fEducation,fNumberfoffSellers,fExpectationsffor
ffuturefprices,fGovernmentfRegulations