Match the Definition with Its Term

question 49

Multiple Choice

Match the definition with its term
-A strong preference or inclination that inhibits impartial judgement

• A)model
• B)law
• C)hypothesis
• D)experiment
• E)chemical change
• F)bias
• G)scientific method
• H)physical change
• I)theory

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Definitions:

Demand Schedule

A table listing various quantities of a good or service that consumers are willing to purchase at different price levels, illustrating the relationship between price and quantity demanded.

Price Taker

A seller (or buyer) that is unable to affect the price at which a product or resource sells by changing the amount it sells (or buys).

Price Maker

A market participant that has the power to influence the price of a product or service by controlling its supply, its demand, or both.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers is equal to the quantity supplied by producers, leading to a market balance.