Entrepreneurship ______________________________________________________
2. What is a demand schedule? What is a demand curve?
3. What is law of demand? Explain.
4. What is a supply schedule? What is a supply curve?
5. What is law of supply? Explain.
6. Describe in words how demand curve changes or is affected by the following events. Then draw figure (s) of demand curve to illustrate that change in demand.
6.1 Japanese food becomes more popular in Thailand.
6.2 If there is a discount in price of tennis rackets nationwide, how does the quantity
demand curve of tennis ball change?
7. Describe in words how supply curve changes or is affected by the following events. Then draw figure (s) of supply curve to illustrate that change in supply.