Question

(02.01 LC)

Match each term with its description.

Match Term Definition
Demand A) Amount of money left over after the business pays its expenses.
Price B) The production, purchase, and sale of goods in a world.
Profit C) The amount paid for goods or services.
Competition D) The number of goods and services that consumers want to buy.
Global economy E) Rivalry in supplying or acquiring an economic service or good.

Answer 1

See below

Step-by-step explanation:

Demand A): The number of goods and services that consumers want to buy. Demand is computed in relation to a specified price per period.

Price B): The amount paid for goods or services. In most cases, price is the monetary value attached to an item.

Profit C): Amount of money left over after the business pays its expenses. Profits are achieved when revenues or income are more than the costs.

Competition D): Rivalry in supplying or acquiring an economic service or good. Businesses compete to gain customers, a bigger market share, and more profits.

Global economy E) The production, purchase, and sale of goods in a world. Technological and infrastructure development has made trading in the world much easier and faster.