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Match the vocabulary word or phrase to the definition.

Column A
1. The principle that suppliers will offer more of a good or service at higher prices and offer less at lower prices
2. The measurement of responsiveness of one variable (quantity supplied) to an independent variable that changes (price); rate of change
3. A supply curve that is steeper means it is more responsive to price changes, suggesting that the good or service is
4. The graphic representation of the relationship between the price of a good or service and the quantity supplied of the good and service
5. A table that represents the relationship between the price of a good or service and the quantity supplied of the good or service
6. The amount of a product (good or service) offered at all possible prices in the market
Column B
a. Elasticity
b. Law of supply
c. Supply curve
d. Supply schedule
e. Elastic
f. Supply

Sagot :

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