econ 202 ole miss midterm

econ 202 ole miss midterm
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1. quantity demanded shows up as movement on
the demand curve

2. quantity supplied shows up as a movement
on the supply curve

3. demand shows up as a shift of the
demand curve

4. demand represents the choice
making behavior of buyers

5. Supply shows up as a shift of the
supply curve

6. right regardless of a shift or
movement, an increase
means which direction?

7. left regardless of a shift or
movement, a decrease
means which direction?

8. law of demand says that there is an
inverse relationship be-
tween price and quantity
demanded

9. inverse relationship Two variables move in op-
posite directions. If one in-
creases the other decreas-
es; and if one decreases
the other increases.

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