From the list on your right select the letter that contains the word, phrase, na

Question

From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. The total amount of goods and services consumers are willing A Shortage and able to purchase at a given price B. No effect on the market Other things remaining the same or other things being equal Ceteris paribus D. Complements E. Equilibrium Positive or direct relationship between price and quantityD supplied, ceteris paribus Where buyers' and sellers plans are in balance or in agreement A rise in income brings a decrease in demand An increase in the price of X leads to a decline in demand for Y H Price ceiling set below equilibrium The area below the demand curve and above the market price J Minimum wage Natural disaster Quantity demanded Consumer surplus Quantity supplied I.The Law of Supply Demand K. The Law of Demand L Inferior good M. Substitutes . Producer surplus Supply curve shifts to the left An example of price floor Normal good

Explanation / Answer

Option F, quantity demanded Option C, Ceterius paribus Option I, law of supply Option E, equilibrium Option L, inferior good Option D, complements Option A, Shortage Option G, consumer surplus Option P, example of price floor Option O, supply curve shifts to the left

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