_____________ is a numerical measure of the responsiveness of supply to a change in the price of the product alone.

When price goes up, there is an ___________ in quantity supplied.

_____________ play a very important part in the allocation of resources in markets.

____________ is the human resource, the basic determinant of which is the nation's population.

The ____________ curve shifts to the left or right when, 'other things being equal', the assumption is changed.

_____________ may also impose indirect taxes on companies.

_____________ is a very important concept in markets.

Full form of PED.

___________ is simply a way of quantifying cause and effect relationships.

_____________ arises because some consumers are willing to pay more than the given price for what they buy.