2. Identify the role of businesses in the circular flow. 3. Identify the role of workers/individuals in the circular flow.

4. Define "The Law of Demand”.

5. Explain the substitution effect and give an example from your personal life

6. List & explain 3 factors that affect demand

7. Explain price elasticity and name 1 product this is elastic and 1 that is inelastic

8. Define "The Law of Supply"

9. List 3 determinants (factors) of supply.

10. What are the two main variables in the law of supply and what is the relationship between the two?

carefully examine the map above. based on your knowledge of colonialism in africa, the area attributed to belgium on this map is most likely the democratic republic of the congo.

changes in factors like average income and preferences can cause an entire demand curve to shift right or left. this causes a higher or lower quantity to be demanded at a given price. demand curves relate the prices and quantities demanded assuming no other factors change. it is important for consumers to know this information, because it is crucial for them to know what they can afford and can't afford. i hope this .

answer; humanistic;

answer; legislature;