my project in microeconomics

HAIKU

Law of Supply
-If supply decrease
buyer's demand increases
the sales will increase


Law of Demand
-If demand increase
Price of product will increase
the business will grow

Price
-The Price of product
depends on value of goods
or its services

Scarcity
- Scarcity is
unlimited wants and needs
lack of resources

Revenue
-It is the income
sales of goods and services
to a costumer

Capital
-Capital is the
important thing in business
helps to create goods

Market
-Buyer's and seller's
make transaction directly
in the public place

Graph
-graph used in business
abstract representation
in any problem

Opportunity Cost
-value of best choice
the opportunity cost
exclusive choices

Commodity
-a demand product
that is limited supply
across a market

Price Determination
-Free market forces
establish level of price
goods and services

Consumer Choice Theory
-It is a theory
in microeconomics
relates demand curve

Market Forces
-fundamental to
price mechanism in a
free market system

Factor Market
-is a market where
the factor of prodution
that is divided

Profit maximization
-Company's process
returned the greatest profit
in output level