In your own words... 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?

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Explanation:

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this statement is true.

forests are public goods, available for everybody. when usage of such a good becomes interesting for consumers and its usage increases, there can be a risk of overexploitation. it is a non rival good therefore, if one person consumes the good it does not reduce the availability for subsequent consumers.

these caracteristics require the establishment of measures in order to prevent the destruction of a commonly owned space, for example, to restrict the amount of people that have access to the same time.

the answer to your question is false can’t remember who he rode with but he rode with sombody