Match the Following Terms with Their Definitions

question 22

Multiple Choice

Match the following terms with their definitions.
-Focus group Best defined as a group interview, with a predetermined set of questions, but also offers leeway to explore comments

• A) Structured interviews
• B) Unstructured interviews
• C) Focus group

---

Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.

Supply Curve

A graphical representation of the relationship between the price of a good and the amount of it that producers are willing to supply.

Equilibrium Price

The market price at which the supply of an item matches its demand, resulting in an efficient market condition where there is no excess supply or demand.

Inverse Demand Function

A mathematical function that expresses price as a function of quantity demanded, depicting how the market price of a good will adjust to balance demand with supply.