Micro Unit 2.3 CW: S/D and Elasticity (Vocab Matching)

Posljednje ažuriranje 10 months ago

Match the terms to the definition.

Stavka koja se može prevući		Odgovarajuća stavka
the amount of money a company receives by selling goods or services		elasticity of demand
the change in consumption resulting from a change in real income		substitution effect
one assumes that all other variables except those under immediate consideration are held constant		law of demand
a good that replaces another demanded good		complement
the way that a change in price determines whether or not consumers buy goods		substitute
an item for which demand drops when people's income increases.		total revenue
a measure of how people change their buying patterns when prices change		normal good
what happens when consumers react to an increase in a good's price by consuming less of that good and more of other goods		inferior good
a good that is always used with another good		demand curve
demand that is very sensitive to a change in price		ceteris paribus
a graphic representation of a demand schedule		income effect
a good that consumers will demand more of when their incomes increase		elastic