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3 Namen.D. Nurnber: Section: > of 8 C.) Part 2. Matching: Match the Key terms In Column "A" wkh the definitions In Column '8" by writing the block (upper) case letter Of your chdce under column 'KA" and match the definitbns in column "B" with the meanings or examples or real work] applications or facts formulas In coh.jmn "C" by writing the smal (lower) case letter of your choice under cokJmn "B" Cokimn "A" 1. Market 2. Demand 3. Law of Demand 4. Demand Schedule 5. Demand Curve 6. Law of Column 'V' A. A pod for whh dernand rises(fab) as hcorrE a. b. B. The ngness & abiliy of Y>l'ers to produce 8 offer b C sell different Quantites (Qtys) of a good at dtferent prees during a spec& time penod C. Arry place mrne bgether b trade or excharge (may take at a physkal or vrtual hcatn) D. The wilirvness 8 abliy of buyers to purchase different Qty of a good at difErent pries duhng a specfc brre perj e. E. As the p-te of a good rises, the quantity (Qty) demar&d the good fax, & as the prce of a good fab, the quantity demanded of ttE good rSes, Cetere Paribus (CPL f. F The numertal tabulatin of the quantity dernaMed of a pod at dtterent pres. It is nutTErical representathn of Diminishing the Law of demand (DO). Marginal utility 7. Own Price 8. Normal 9. Inferior 10. NeLiral Good G. A good for whCh [Emand fallS(rSes) as iroorne H. Two goods that satisfy sirr&r reeds or desires. The demand for one rises(falis) as the pnce of other l. A good for which demand not change as income riE(falls), J. graphi:al Vesentatjon of law of demand. It represents prce-quantlty combinatnn of a Singe bcyer It connects the max.mum boytng grices that he oonsu"Er s willing to pay for dtferent quanbtes of a g. h. Column "G' A buyers nd rr.t ( over tt. counBrOTC) or (9--cnm.rc.). The prico product in qusbm ttotisusu*y on a gnce or astrker pnce Tho direct Iptnitive) relatior.hip exist ttween thw price of product and its quant*y offered for gale. Tine yariabes rmve 'n the swne ectnn (as tip Qty SSxt PxL.Qy SSIi), CP. A pod *ose wanbty an irrr..so(a Ocreas.) in Qty 01 trese of gnds arr} servces tG&Sg) B dlrecby redated to tie level d rmme tie comumer earns. What IS In ore soc*t-i may be cmsored *inferior' in soOetjes ard versa becuse of culture & Exampls nc11A; Luxury goods, Fancy rsOLrani rmab as opposed to fast foo& goo#). that are consurmd or used topttwr. cpanMy demarded of rese kinds of *erd tie pr of oti*r, 'n tte paw Exanvbs: Car & gasoline, Carra & rolb of fih. Tooth brtBh & tooth paste. TIE cvarWW (EmarOd of SWs (Eperd on grice of Gasoh Tre hQher me of lesser rumber of SUVs demar&d, celehs panbJS (CP). The law doscribes the nature of ad&tional or extra satOGction ttt mnsurrs rt by corsurn@successwe unis of tte sarme Within reatwe short penj the. It to an ard servies except for rmney (wru:h a special cornrrodiy). The marpu utilty d rrrwy sorrywhal corsent urdike otter cornmo&es that are sut*ct to dimintsturu satsfacbon. Eh mt.ior rerved equd sabsfbon as ttE grevus ddlar b twmans. pat of tte reason some cait erugh of it. even after, fey rndJnres arxj bilbnaires. Examples of taw (LDMU) at work; The lovel of addtional received from drink'tg successive cans of soo within a short period of or a repeated visit or trip to Disrwy land amusrrwnt park after day. A good wantity decreases(incroass) an increaso(a in hcocrw Tte wantlty &rrmd of these kinds of arri semces (G&Ss) ts oersdy related b the level of '-come tte consumer may earn Examples include; used clotts & furniture. and bus travel. The to consunw or use a product, it iS effective ody wtEn wiling-ess b gay a prodd IS malcted by purchasm or abdity pay- The (negtivo) relationship that exist between the price of a and its quantity demanded. These Wo vanaUes move in opXjs-:te dvecbon (as the Pxt .Qty DDxlor as Px' Qty DOI cetens panbJS (CP).Th because hgher (lowed) dSocurage (encarage) spendru, CP. A tabular representation of tho law of demand tt'* quantibes tat the mnsurner s wam ard