Match the following terms to their definitions Question 1 options: Markets in which households are demanders Markets in which firms are demanders A rise in the general level of prices of goods and services An analytical tool that highlights some aspects of reality while ignoring others Abstention from consumption (income not spent on consumption) Recurrent fluctuations in economic output People wanting to work who cannot find it 1. Unemployment 2. Inflation 3. Business (trade) cycle 4. Saving 5. Model 6. Product markets 7. Factor markets