The higher the income level, the higher the demand for the ___ goods

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

There is movement along the demand curve when ___

The demand curve usually slopes ___

In the situation of ___ good, there are no cheaper and closer substitutes available. Due to the lack of substitutes, the income effect dominates, guiding people to buy more of the good, even if its price increases

The "supply law" means that producers will offer more quantity of goods and services if their price ___

The ___ of supply is the percentage of change in the quantity supplied divided by the percentage of change in the price

The quantity of goods offered may, in the ___ term, be different from the quantity produced

Where the labor supply curve slopes upward, ___

Any excess of ___ would lead to price cuts

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

In perfect competition, in the ___ term, inefficient situations may occur

In perfect competition, if the ___ term, the positive profit can't be maintained

The characteristics of ___ are: many buyers/many sellers, low entry/exit barriers, perfect information, the objective of companies is to maximize profits, homogeneous products and perfect factor mobility

The idea that monopolies in markets with ease entry don't need to be regulated is know as the "___ monopoly theory"

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

An acquisition is ___ if the companies cooperate in the negotiations

___ monopoly is a monopoly created by the government through artificial barriers to entry such as patents, (for example, the pharmaceutical industry) and copyrights, (for example, the audiovisual industry)

In a ___ there are both a monopoly (a single seller) and a monopsony (a single buyer) in the same market

The practice whereby a known market leader informally sets prices for other producers to answer is known as ___

In ___ there is a tendency to minimize costs and equate profits

The demand for labor is ___ demand

The ___ market includes the Stock Market and the Bond Market

Third World countries mainly sell ___