Question: Define quantity-demanded Explain the relationship between price and quantity demanded Define a change in demand andfactors influencing demand Define quantity-supplied Explain the relationship between price

  • Define quantity-demanded
  • Explain the relationship between price and quantity demanded
  • Define a change in demand andfactors influencing demand
  • Define quantity-supplied
  • Explain the relationship between price and quantity supplied
  • Define a change in supply and itscauses
  • Elaborate the laws of demand and supply
  • Explain the Circular Flow Model
  • Define Gross Domestic Product (GDP) and National Income (NI).
  • List the components of GDP.
  • Measure GDP from the expenditure and income side.
  • Compare the difference between Gross Investment and Net Investment.
  • Define net export, net tax, & transfer payment

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