Match the terms to definitions Column AColumn Ba. Substitute1. The stock marketgoods2. A tiny drop in the price of a goodleads to a big increase in quantityb. Shifts thesupply curvedemandedc. A “bubble"3. Shoes and shoelaces4. A shoe manufacturer responds to a. Complementary decline in shoe sales by cuttingback on production and laying offgoodsworkerse. Speculation5. Tea and coffeef. Market6. Quantity supplied is greater thanquantity demandedequilibrium7. Buying an asset largely in the hopeof selling it later for a higher priceg. Auction marketh. Quantityadjustment8. Quantity supplied is equal toquantity demandedi. Price-elasticdemand9. A change in the number of sellers10. When investors' optimism pushesthe price of an asset artificiallyhighj. Surplus

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Column A Column B a. Substitute 1. The stock market goods b. Shifts the supply curve 2. A tiny drop in the price of a good leads to a big increase in quantity demanded c. A “bubble" 3. Shoes and shoelaces 4. A shoe manufacturer responds to a Complementary decline in shoe sales by cutting goods back on production and laying off workers e. Speculation 5. Tea and coffee 6. Quantity supplied is greater than quantity demanded f. Market equilibrium 7. Buying an asset largely in the hope of selling it later for a higher price Auction market h. Quantity adjustment 8. Quantity supplied is equal to quantity demanded i. Price-elastic 9. A change in the number of sellers demand 10. When investors' optimism pushes the price of an asset artificially high j. Surplus

Column A Column B a. Substitute 1. The stock market goods b. Shifts the supply curve 2. A tiny drop in the price of a good leads to a big increase in quantity demanded c. A “bubble" 3. Shoes and shoelaces 4. A shoe manufacturer responds to a Complementary decline in shoe sales by cutting goods back on production and laying off workers e. Speculation 5. Tea and coffee 6. Quantity supplied is greater than quantity demanded f. Market equilibrium 7. Buying an asset largely in the hope of selling it later for a higher price Auction market h. Quantity adjustment 8. Quantity supplied is equal to quantity demanded i. Price-elastic 9. A change in the number of sellers demand 10. When investors' optimism pushes the price of an asset artificially high j. Surplus

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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