ECO 365 Week 1 Economic Definitions Worksheet

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ECO 365 Week 1 Economic Definitions Worksheet
Complete the Economics Definitions Worksheet.
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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