At a higher income level, ___ demand

If the products are substitutes, at a higher price for one of them, ___ demand for the other (if the rest of the circumstances are kept constant)

There is ___ the demand curve when a change in prices causes the quantity demanded to change

The ___ curve usually slopes downwards

In normal situations, when the price of a good rises, the ___ effect causes people to buy less of it and more of substitute goods

The supply curve has a ___ association

The ___ is the measure of how the quantity supplied reacts to a change in price

In the case that there is production capacity without using, elasticity would be ___

Where the labor supply curve slopes ___, the substitution effect is greater that the income effect

In most interpretations, classical economists such as Adam Smith held that the free market would tend toward economic equilibrium through the mechanism of ___

Any excess of demand would lead to the price incresing, ___ the quantity demanded

There are ___ perfectly competitive markets

In perfect competition, if the average price or average income is above the average cost, we would obtain an extraordinary profit ___

In perfect competition, the horizontal demand curve will touch the average total cost curve at it most ___ point

A ___ monopoly is approved by the state, often to provide an incentive to invest in risky ventures

A ___ is a vertical integration of companies so that an entire production process is under the control of a single company

Acquisitions are ___

If there is only one seller in a certain industry and there are no close substitutes for the good that is produced by he, then the market structure is that of a ___ monopoly

In Greek, opsonia means ___

A good example of a cartel can be the ___ that has a profound influence on the international price of oil

In perfect competition, inefficient companies won't be able to leave the sector in the ___ term

The demanders of labor are the ___

In the capital market, governments can raise funds for ___ term

The only characteristic that ___ found common in all Third World countries was that their governments demand and receive Western aid (the donation of which he strongly opposes)