← SetsApplied Economics — Set 1
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Applied Economics Practice Questions — Set 1
10 free Applied Economics reviewer questions with answers and explanations. Pindutin ang sagot mo para makita agad kung tama — kasama na ang paliwanag. Set 1 of 8.
1
What is the law of demand?
2
What is the law of supply?
3
What happens at market equilibrium?
4
What causes a shortage in the market?
5
What causes a surplus in the market?
6
During typhoon season, price of vegetables increases in Manila markets. This demonstrates:
7
What is a demand curve?
8
When income of Filipinos increases, demand for Jollibee meals likely:
9
What are substitute goods?
10