問題一覧
1
It is generally affected by the behavior of consumers.
Demand
2
It is usually affected by the conduct of producers.
Supply
3
The interplay between these two is the foundation of economic activity.
Demand and Supply
4
It exists when “buyers wishing to exchange money for a good or
service are in contact with sellers wishing to exchange goods or services for money.”
Market
5
It is where people are left alone to make their own transactions.
Market
6
It is also where the forces of demand and supply interact.
Market
7
It is through the this where “buyers make known their decisions to buy or not to buy and on what terms, and sellers make known their willingness and ability to sell or not to sell and on what terms.”
Market
8
The number or amount of goods and services desired by the consumers at various prices in a particular period of time.
Demand
9
The amount of goods and services consumers are willing and able to buy/purchase at a given price, place, and period of time.
Quantity Demanded
10
It states that “as price increases, quantity demanded
decreases; and as price decreases, quantity demanded increases, if other factors remain constant (ceteris paribus).”
Law of Demand
11
In economic analysis, all factors that affect economic situations or phenomena cannot be considered.
Ceteris Paribus Assumption
12
means “all other things held constant or all else equal.
Ceteris Paribus
13
This assumption is used as a device to analyze the relationship between two variables while the other factors held unchanged.
Ceteris Paribus Assumption
14
These are those that actually influence the quantity of demand.
Determinants
15
Aside from the price that influences the quantity demanded as stated in the law of demand, there are also other factors that should be given consideration.
Non-price Determinants of Demand
16
Non–Price Determinants of Demand
Consumer's Income, Consumer's Expectation of Future Prices, Prices of Related Products, Tastes and Preferences, Population Change, Special Influences, Occasional or Seasonal Products
17
2 types of Goods
Normal Goods, Inferior Goods
18
Relationships of Products
Substitute Products, Complimentary Products
19
A change in income will cause a change in demand. This is because an increase in one’s income generally raises his capacity or power to demand for goods and services which he is not able to purchase at lower income. On the other hand, a decrease in one’ income reduces his purchasing power, and consequently, his demand for some goods or services ultimate declines
Consumer's Income
20
It refers to a good for which demand at every price increases
when income rises or vice versa.
Normal Goods
21
It refers to a good for which demand falls when income rises
and vice versa.
Inferior Goods
22
If buyers expect the price of a good or service to rise (or fall) in the future, it may cause the current demand to increase (or decrease).
Consumer's Expectation of Future Prices
23
The demand for any particular good will be affected by changes in the prices of related goods.
Prices of Related Products
24
These are goods that can be used in place of other goods. They
are related in such a way that an increase in the price of one good causes an increase in the demand for other good or vice versa.
Substitute Products
25
These are goods that go together or cannot be used without the other. They are related in such a way that an increase in the price of one good will cause a decrease in the demand for the other good.
Complimentary Products
26
It pertain to the personal likes or dislikes of consumers for certain goods and services. Religion, culture, traditions, and are some of the factors that can affect them.
Tastes and Preferences
27
An increase in the population means more demand for goods and services. Inversely, less population means less demand for goods and services
Population Change
28
There are certain developments that influence demand for
certain goods and services.
Special Influences
29
The various events or seasons in a given year also result to a movement of the demand curve with reference to a particular good.
Occasional or Seasonal Products
30
It is a tabular representation that shows the relationship between the quantity of a good demanded and the price of that good
Demand Schedule
31
is a graphical representation that shows the relationship between the quantity of a good demanded and its corresponding price, with other variables held constant.
Demand Curve
32
It describes the negative relation between the price of a good and the quantity that consumers want to buy at a given price.
Demand Curve
33
It is typically downward sloping
Demand Curve
34
This downward sloping property of the demand curve is referred to as:
The Law of Downward Sloping Demand
35
The movement is along the same demand curve, which shows the movement from one point to another point of the same demand curve.
Change in Quantity Demanded
36
It is brought about by a change in price of goods and services. (QD)
Change in Quantity Demanded
37
The number or amount of goods and services which sellers desire to sell at various prices in a particular period of time.
Supply
38
It refers to the amount or quantity of goods and services producers are willing and able to supply at a given price, at a given period of time.
Quantity Supplied
39
It states that “as price increases, quantity supplied also
increases; and as price decreases, quantity supplied also decreases; if other factors remain constant (ceteris paribus).”
Law of Supply
40
Non – Price Determinants of Supply
Change in Technology, Cost of Inputs Used, Expectation of Future Prices, Prices of Related Products, Government Regulations and Taxes, Government Subsidies, Number of Firms in the Market, Weather Conditions
41
State-of-the-art technology that uses high-tech machines increases the quantity of supply of goods and services which causes the reduction of production cost.
Change in Technology
42
An increase in the price of an input or the cost of production decreases the quantity supply because the profitability of a certain
business decreases.
Cost of Inputs Used
43
It can shift the supply curve. When producers expect higher prices in the future commodities, the tendency is to keep their goods and release them when the price rises. Inversely, supply for such goods decreases if producers expect prices to decline in the future.
Expectation of Future Prices
44
Changes in the price of goods have significant effect in the supply of such goods.
Prices of Related Products
45
It is expected that taxes imposed by the government increases cost of production which in turn discourages production because it reduces producers’ earnings.
Government Regulation and Taxes
46
Subsidies or the financial aids/assistance given by the government reduce cost of production which encourage more supply.
Government Subsidies
47
An increase in the number of firms in the market leads to an increase in supply of goods and services.
Number of Firms in the Market
48
Bad weather, such as typhoons, drought or other natural disasters, reduces supply of agricultural commodities while good weather has an opposite impact.
Weather Conditions
49
It is a tabular representation that shows the relationship between the quantity of a good supplied and its price.
Supply Schedule
50
It s a graphical representation that shows the relationship between the quantity of a good supplied and its corresponding price, with other variables held constant
Supply Curve
51
It is typically upward sloping.
Supply Curve
52
It describes the positive relation between the price of a good and the quantity that suppliers are willing and able to sell at a given price.
Supply Curve
53
The movement is along the supply curve, which shows the movement from one point to another point on the same supply curve
Change in Quantity Supplied
54
It is brought about by a change in the price of goods and services. (s)
Change in Quantity Supplied
55
Pertains to a balance that exists when quantity demanded equals quantity supplied
Market Equilibrium
56
The general agreement of the buyer and the seller at a particular price and at a particular quantity.
Market Equilibrium
57
When supply is equal to demand, price remains constant.
Market Equilibrium
58
It is a condition in the market where the quantity supplied is greater than the quantity demanded at a given price; it occurs whenever the price is greater than the equilibrium price.
Surplus
59
When this happen, the tendency is for sellers to lower market prices in order for the goods to be easily disposed from the market.
Surplus
60
This means that there is a downward pressure to price in order to restore equilibrium in the market.
Surplus
61
It is a condition in the market in which quantity supplied is lesser than the quantity demanded at a given price; it occurs whenever the price is less than the equilibrium price.
Shortage
62
When the market is experiencing it, there is a possibility of consumers being abused, while producers are enjoying imposing
higher prices for their own interest.
Shortage
63
It exists below the equilibrium point.
Shortage
64
There is an upward pressure to prices to restore equilibrium in the market.
Shortage
65
Consumers bid up prices in order for them to acquire the goods and services that are in short supply.
Shortage
66
It is the specification by the government of minimum and/or maximum prices for goods and services.
Price Control
67
It is the legal minimum price imposed by the government. This is
undertaken if a surplus in the economy persists.
Floor Price
68
This move is resorted to in order to prevent bigger losses on the part of the producers.
Floor Price
69
It is a form of assistance to producers by the government for them to survive in their business.
Floor Price
70
It is the legal maximum price imposed by the government.
Price Ceiling
71
It is utilized by the government if there is a persistent shortage of goods in the economy.
Price Ceiling
72
It is generally imposed by government to protect consumers from
abusive producers or sellers who take advantage of the situation.
Price Ceiling
73
It states that when supply is greater than demand, price
decreases. When demand is greater than supply, price increases. When supply is equal to demand, price remains constant. This is market equilibrium.
Law of Demand and Supply
Laws on Rizal
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LESSON 5 & 6
46問 • 10ヶ月前lesson 7
lesson 7
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lesson 7
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50問 • 4ヶ月前問題一覧
1
It is generally affected by the behavior of consumers.
Demand
2
It is usually affected by the conduct of producers.
Supply
3
The interplay between these two is the foundation of economic activity.
Demand and Supply
4
It exists when “buyers wishing to exchange money for a good or
service are in contact with sellers wishing to exchange goods or services for money.”
Market
5
It is where people are left alone to make their own transactions.
Market
6
It is also where the forces of demand and supply interact.
Market
7
It is through the this where “buyers make known their decisions to buy or not to buy and on what terms, and sellers make known their willingness and ability to sell or not to sell and on what terms.”
Market
8
The number or amount of goods and services desired by the consumers at various prices in a particular period of time.
Demand
9
The amount of goods and services consumers are willing and able to buy/purchase at a given price, place, and period of time.
Quantity Demanded
10
It states that “as price increases, quantity demanded
decreases; and as price decreases, quantity demanded increases, if other factors remain constant (ceteris paribus).”
Law of Demand
11
In economic analysis, all factors that affect economic situations or phenomena cannot be considered.
Ceteris Paribus Assumption
12
means “all other things held constant or all else equal.
Ceteris Paribus
13
This assumption is used as a device to analyze the relationship between two variables while the other factors held unchanged.
Ceteris Paribus Assumption
14
These are those that actually influence the quantity of demand.
Determinants
15
Aside from the price that influences the quantity demanded as stated in the law of demand, there are also other factors that should be given consideration.
Non-price Determinants of Demand
16
Non–Price Determinants of Demand
Consumer's Income, Consumer's Expectation of Future Prices, Prices of Related Products, Tastes and Preferences, Population Change, Special Influences, Occasional or Seasonal Products
17
2 types of Goods
Normal Goods, Inferior Goods
18
Relationships of Products
Substitute Products, Complimentary Products
19
A change in income will cause a change in demand. This is because an increase in one’s income generally raises his capacity or power to demand for goods and services which he is not able to purchase at lower income. On the other hand, a decrease in one’ income reduces his purchasing power, and consequently, his demand for some goods or services ultimate declines
Consumer's Income
20
It refers to a good for which demand at every price increases
when income rises or vice versa.
Normal Goods
21
It refers to a good for which demand falls when income rises
and vice versa.
Inferior Goods
22
If buyers expect the price of a good or service to rise (or fall) in the future, it may cause the current demand to increase (or decrease).
Consumer's Expectation of Future Prices
23
The demand for any particular good will be affected by changes in the prices of related goods.
Prices of Related Products
24
These are goods that can be used in place of other goods. They
are related in such a way that an increase in the price of one good causes an increase in the demand for other good or vice versa.
Substitute Products
25
These are goods that go together or cannot be used without the other. They are related in such a way that an increase in the price of one good will cause a decrease in the demand for the other good.
Complimentary Products
26
It pertain to the personal likes or dislikes of consumers for certain goods and services. Religion, culture, traditions, and are some of the factors that can affect them.
Tastes and Preferences
27
An increase in the population means more demand for goods and services. Inversely, less population means less demand for goods and services
Population Change
28
There are certain developments that influence demand for
certain goods and services.
Special Influences
29
The various events or seasons in a given year also result to a movement of the demand curve with reference to a particular good.
Occasional or Seasonal Products
30
It is a tabular representation that shows the relationship between the quantity of a good demanded and the price of that good
Demand Schedule
31
is a graphical representation that shows the relationship between the quantity of a good demanded and its corresponding price, with other variables held constant.
Demand Curve
32
It describes the negative relation between the price of a good and the quantity that consumers want to buy at a given price.
Demand Curve
33
It is typically downward sloping
Demand Curve
34
This downward sloping property of the demand curve is referred to as:
The Law of Downward Sloping Demand
35
The movement is along the same demand curve, which shows the movement from one point to another point of the same demand curve.
Change in Quantity Demanded
36
It is brought about by a change in price of goods and services. (QD)
Change in Quantity Demanded
37
The number or amount of goods and services which sellers desire to sell at various prices in a particular period of time.
Supply
38
It refers to the amount or quantity of goods and services producers are willing and able to supply at a given price, at a given period of time.
Quantity Supplied
39
It states that “as price increases, quantity supplied also
increases; and as price decreases, quantity supplied also decreases; if other factors remain constant (ceteris paribus).”
Law of Supply
40
Non – Price Determinants of Supply
Change in Technology, Cost of Inputs Used, Expectation of Future Prices, Prices of Related Products, Government Regulations and Taxes, Government Subsidies, Number of Firms in the Market, Weather Conditions
41
State-of-the-art technology that uses high-tech machines increases the quantity of supply of goods and services which causes the reduction of production cost.
Change in Technology
42
An increase in the price of an input or the cost of production decreases the quantity supply because the profitability of a certain
business decreases.
Cost of Inputs Used
43
It can shift the supply curve. When producers expect higher prices in the future commodities, the tendency is to keep their goods and release them when the price rises. Inversely, supply for such goods decreases if producers expect prices to decline in the future.
Expectation of Future Prices
44
Changes in the price of goods have significant effect in the supply of such goods.
Prices of Related Products
45
It is expected that taxes imposed by the government increases cost of production which in turn discourages production because it reduces producers’ earnings.
Government Regulation and Taxes
46
Subsidies or the financial aids/assistance given by the government reduce cost of production which encourage more supply.
Government Subsidies
47
An increase in the number of firms in the market leads to an increase in supply of goods and services.
Number of Firms in the Market
48
Bad weather, such as typhoons, drought or other natural disasters, reduces supply of agricultural commodities while good weather has an opposite impact.
Weather Conditions
49
It is a tabular representation that shows the relationship between the quantity of a good supplied and its price.
Supply Schedule
50
It s a graphical representation that shows the relationship between the quantity of a good supplied and its corresponding price, with other variables held constant
Supply Curve
51
It is typically upward sloping.
Supply Curve
52
It describes the positive relation between the price of a good and the quantity that suppliers are willing and able to sell at a given price.
Supply Curve
53
The movement is along the supply curve, which shows the movement from one point to another point on the same supply curve
Change in Quantity Supplied
54
It is brought about by a change in the price of goods and services. (s)
Change in Quantity Supplied
55
Pertains to a balance that exists when quantity demanded equals quantity supplied
Market Equilibrium
56
The general agreement of the buyer and the seller at a particular price and at a particular quantity.
Market Equilibrium
57
When supply is equal to demand, price remains constant.
Market Equilibrium
58
It is a condition in the market where the quantity supplied is greater than the quantity demanded at a given price; it occurs whenever the price is greater than the equilibrium price.
Surplus
59
When this happen, the tendency is for sellers to lower market prices in order for the goods to be easily disposed from the market.
Surplus
60
This means that there is a downward pressure to price in order to restore equilibrium in the market.
Surplus
61
It is a condition in the market in which quantity supplied is lesser than the quantity demanded at a given price; it occurs whenever the price is less than the equilibrium price.
Shortage
62
When the market is experiencing it, there is a possibility of consumers being abused, while producers are enjoying imposing
higher prices for their own interest.
Shortage
63
It exists below the equilibrium point.
Shortage
64
There is an upward pressure to prices to restore equilibrium in the market.
Shortage
65
Consumers bid up prices in order for them to acquire the goods and services that are in short supply.
Shortage
66
It is the specification by the government of minimum and/or maximum prices for goods and services.
Price Control
67
It is the legal minimum price imposed by the government. This is
undertaken if a surplus in the economy persists.
Floor Price
68
This move is resorted to in order to prevent bigger losses on the part of the producers.
Floor Price
69
It is a form of assistance to producers by the government for them to survive in their business.
Floor Price
70
It is the legal maximum price imposed by the government.
Price Ceiling
71
It is utilized by the government if there is a persistent shortage of goods in the economy.
Price Ceiling
72
It is generally imposed by government to protect consumers from
abusive producers or sellers who take advantage of the situation.
Price Ceiling
73
It states that when supply is greater than demand, price
decreases. When demand is greater than supply, price increases. When supply is equal to demand, price remains constant. This is market equilibrium.
Law of Demand and Supply