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Notgrass Exploring Economics Unit 6 Questions and Answers (100% Pass)
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Notgrass Exploring Economics Unit 6 Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PMNotgrass Exploring Economics Unit 6
Questions and Answers (100% Pass)
law of demand - ✔️✔️states that all else being equal, when the price of a good or service rises,
demand falls
aggregate supply - ✔️✔️the total quantity of goods and services that all sellers are willing and able
to provide at any price
aggregate demand - ✔️✔️the total of all goods and services that all households, companies, and
the government are willing and able to buy at any price in a given period of time
market failure - ✔️✔️Taxes can cause ________________________ by increasing the cost of
goods and services
externalities - ✔️✔️the effects from supply and demand activity that affect people who are not the
actual buyers and sellers in a transaction
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