MICROECONOMICS & MACROECONOMICS

5. Resource that are limited in supply but have alternative use
6. A firm that can influence or set the market price
10. The total amount of output produced using given inputs
11. Many firm ,same product
12. At least one fixed input
15. Tax that is imposed by the government on producers or sellers but paid by or passed on to end users
16. When quantity demanded and quantity supplied are equal and there is no tendency for price
17. As producers to maximize profit
18. Good/service that can be used in place of another.

1. As consumer to maximize satisfaction
2. The total amount of output produced using given inputs
3. Extra output when labor increase
4. A cost that remains constant regardless of output level in the short run
5. An incentive from government to encourage producers to produce more.
7. One firm ,no substitute
8. The practice of charging different prices to different consumers for the same product
9. Provide the best economic space for people
13. Government imposed regulations that prevent prices from failing below a minimum level
14. A law stating that when price increases, quantity demanded decrease.
19. A time period in which at least one factor of production is fixed