ECO 365 Week 1 Economic Definitions Worksheet

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ECO 365 Week 1 Economic Definitions Worksheet
Complete the Economics Definitions Worksheet.
Click the Assignment Files tab to submit your assignment.
Economics - Definitions
 
Complete the following.  Include your references using APA formatting.
 
Write the definition for each of the following:
 

  1. Law of Demand


 

  1. Law of Supply


 

  1. Price Elasticity of Demand


 

  1. Macroeconomics


 

  1. Microeconomics


 
 
 
Identify 2 Products whose demand is price elastic.
 
Which of the following graphs best demonstrates the law of demand?
 
a)     I
b)     II
c)     III
d)     IV
 
Which of the following graphs best demonstrates the law of supply?
 
a)     I
b)     II
c)     III
d)     IV
 

 
References
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