Applied Economics

2. Is the portion of income earned that is not spent on consumption or taxes.
3. Is where securities of corporations are traded.
7. Is a person's liking or preference.
8. Payment for public goods and services by citizens.
10. Refers to the competitive environment in which buyers and sellers operate.
12. Refers to the purchasing power of a person's money income. This is the amount of goods and services one can buy with the income.
13. Is a good which a consumer tends to buy more of when income increases.
14. Is a means of interaction between buyers and sellers for trading or exchange. It is where the consumer buys and the seller sells.
19. Is a Filipino who works in a foreign country.
21. Is a market where there is a sole producer of a product, for which there are no close substitutes.
22. Shows the different quantities the seller is willing to sell at various prices.
24. Are factors other than price that also can influence the demand for or supply of a good.
26. Is a market where a few sellers account for most of or total production.
27. Refers to the quantity of goods that a seller is willing to offer for sale.
28. Measures how the quantity demanded changes as consumer income changes.
29. This measures the responsiveness of demand to a change in the price of the good.

1. Is a change in the entire demand or supply curve, due to a change in a non price determinant of demand or supply.
4. Exists when quantity demanded is equal to quantity supplied.
5. Exists when there are many buyers and sellers who are too small to affect price and who offer a homogenous or highly similar good in the market.
6. Work for less than 40 hours.
9. Payment for the use of land belonging to a landowner.
10. Is a type of imperfect competition where firms sell differentiated products which are highly substitutable but are not perfect substitutes.
11. Government-provided facilities for public use that society and the economy cannot do without.
15. The highest price that the seller can charge for the good being sold, normally set by the government.
16. Are those which are used in place of each other.
17. Basic factors of production enabling the processing of products towards higher stages.
18. Refers to the surge in the demand for housing and residential property.
20. Is a fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee.
23. Includes all the inhabitants of a particular town, area, or country.
25. Refers to the lowest wage permitted by law below which if paid by employer will subject him to penalty from the government.