Explain how the demand curve shifts right or left?
Explain elasticity of demand. What are the different types of demands? List, explain and graph them.
Formula of elasticity of demand, table of elasticity coefficients
What is the formula of elasticity of demand? List and describe the elasticity coefficients.
Sample question and answer for determining the elasticity of demand, sample application of elasticity of demand formula. See the attached file.
Supply, law of supply, determinants of supply
What is supply? What is law of supply and what are the determinants of supply?
Graph the shifts in supply curve when the supply increase and when supply decrease.
The definition of balance of payments.
What are balance of payments?
The definition of a bilateral monopoly.
What is a bilateral monopoly?
The definition of the term Capitalism.
What is "Capitalism"
The definition of the term Cartel.
What is a "Cartel"?