Economics Definitions, business and finance homework help

Please answer the questions and provide definitions where needed. For the last 2 problems where you are to identify the specific graphs being represented, please see the Announcements for the material needed to answer those questions. Thanks!

Economics – Definitions

Complete the following. Include your references using APA formatting.

Write the definition for each of the following:

  1. Law of Demand
  1. Law of Supply
  1. Price Elasticity of Demand
  1. Macroeconomics
  1. Microeconomics

Identify 2 Products whose demand is price elastic.

Which of the graphs (see Announcements) for the best demonstrates the law of demand?

a) I

b) II

c) III

d) IV

Which of the following graphs (see Announcements) best demonstrates the law of supply?

a) I

b) II

c) III

d) IV

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