demand and supply

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  • Created by: diksha
  • Created on: 01-09-12 11:56
what is the law of demand
the higher the price the lower the demand
1 of 5
what is the law of supply
the higher the price the higher the supply
2 of 5
what is elasticity of demand
price is greater
3 of 5
what is a developing country
countries which are still or is developing
4 of 5
what is scarcity
wants are unlimited need are limited
5 of 5

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Card 2

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what is the law of supply

Back

the higher the price the higher the supply

Card 3

Front

what is elasticity of demand

Back

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Card 4

Front

what is a developing country

Back

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Card 5

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what is scarcity

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Comments

Tom

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Word to first slide as: "

  • An economic principle stating that consumers will purchase less of a good or service at higher prices and more at lower prices." More professional
Tom

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Also, how can wants be unlimited? They all have a certain extent where they have been satisfied.

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