Assessment 2: Direction: Read and analyze the sentence. Fill in the missing word to make the'statement correct. Answer in a separate sheet of paper.
1. It is the willingness of a consumer to buy commodity at a given price.
2. This refers to the quantity of goods that a seller is willing to offer for sale. 3. An interaction between the buyers and sellers of trading or exchange. 4. The major actor in the market and his primary objective is to purchase a commodity because it can give benefit him/her benefits.
5. It is a schedule showing the willingness and capacity to buy a commodity at alternative prices at a given point in time other things held constant
6. Economic term which means "when other things held constant or equal."
7. What relationship between the price of goods and quantity demanded does a demand curve shows?
8. What is the relationship between the price of a good and quantity supplied of the good in the Law of Supply?
9. What is the situation? If the price is above the equilibrium level, then the quantity supplied will exceed the quantity demanded.
10. It is felt when a change in the price of a good changes consumers' real income or purchasing power, which is the capacity to buy with a given income. 112​