The guiding principle of business economics is not -----------------but avoiding loss.

The law of demand states that there is an ------------- relationship between price and quantity demanded

A ------------------ along the demand curve is caused by a change in the price of the good only.

Assuming that bread and jam are complements. If the price of jam increase, the equilibrium quantity for bread will--------------

There is a direct relationship between ------------- of the consumer and his demand.

Elasticity of demand tells the -------- of change in demand to the change in price

Raw materials are an example of a firm's ____ costs.

Data collected at the same, or approximately the same, point in time are _____ data.

The term ______ refers to the economic situation in which a few firms dominate an industry.

The amount of the ____________ effect will depend on the type of fiscal policy created.

Supply is provided by ____________ and demand is created by consumers.