Factors (supply and demand)

Question 1

What does the ‘p’ stand for in PASIFIC

Answer 1

population

Question 2

What does the ‘a’ stand for in PASIFIC

Answer 2

advertising

Question 3

What does the ‘s’ stand for in PASIFIC

Answer 3

substitiutes

Question 4

What does the ‘i’ stand for in PASIFIC

Answer 4

income

Question 5

What does the ‘f’ stand for in PASIFIC

Answer 5

fashion

Question 6

What does the ‘i’ stand for in PASIFIC

Answer 6

inertest

Question 7

What does the ‘c’ stand for in PASIFIC

Answer 7

completmentry

Question 8

What does the ‘p’ stand for in PINTS WC

Answer 8

Productivity

Question 9

What does the ‘i’ stand for in PINTS WC

Answer 9

Indirect Taxes

Question 10

What does the ‘n’ stand for in PINTS WC

Answer 10

Number of Firms

Question 11

What does the ‘t’ stand for in PINTS WC

Answer 11

Technology

Question 12

What does the ‘s’ stand for in PINTS WC

Answer 12

Subsidies

Question 13

What does the ‘w’ stand for in PINTS WC

Answer 13

Weather

Question 14

What does the ‘c’ stand for in PINTS WC

Answer 14

Costs of Production

Question 15

What does the ‘r’ stand for in RMFPTM

Question 16

What does the ‘r’ stand for in RMFPTM

Question 17

What does the ‘r’ stand for in RMFPTM

Question 18

What does the ‘r’ stand for in RMFPTM

Question 19

What does the ‘r’ stand for in RMFPTM

Question 20

What does the ‘r’ stand for in RMFPTM

Question 21

What is price elasticity of demand?

Answer 21

the percentage change in the quantity demanded of a good or service divided by the percentage change in the price

Question 22

What is price elasticity of supply?

Answer 22

the responsiveness of quantity supplied to a change in price. Also denoted as PES, its is calculated by dividing the percentage change in quantity supplied by the percentage change in price