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Definition of microeconomics concepts. Define the following terms: 1- Change in quantity demand 2- Change in quantity offered 3- Change in demand 4- Change in

Definition of microeconomics concepts.

Define the following terms:

1- Change in quantity demand

2- Change in quantity offered

3- Change in demand

4- Change in the offer

5- Determinant of demand

6- Determinant of supply

7- Positive financial statement

8- Normative economic statement

9- Law of comparative advantage

Explain in detail the difference between:

1- Change in quantity demanded versus change in demand.

2- Change in quantity offered versus change in supply.

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