Match each fundamental economic concept relating to the concept and law of demand on the left with its corresponding definition on the right. Which of the following pairs correctly connects each concept with its appropriate economic definition?
- Law of DemandThe principle stating that quantity demanded decreases as price increases, and vice versa.
- Effective DemandA consumer's desire for a commodity backed by the willingness and financial ability to purchase it.
- Demand CurveA graphical representation showing the negative relationship between price and quantity demanded.
- Ceteris ParibusThe operational assumption that all external non-price determinants remain constant.
Cevap
Law of Demand matches with the principle stating that quantity demanded decreases as price increases; Effective Demand matches with a consumer's desire backed by willingness and ability to pay; Demand Curve matches with a graphical representation showing the negative relationship between price and quantity demanded; Ceteris Paribus matches with the operational assumption that all external non-price determinants remain constant.
Each concept correctly links to its underlying economic principle: Law of Demand reflects the price-quantity inverse relationship; Effective Demand requires purchasing power; the Demand Curve is the visual graph of demand; and Ceteris Paribus holds other determinants constant.
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Anahtar Kavram
Core Concepts and Law of Demand