Economic Definitions

Complete the following.  Include your references using APA formatting.

Please make sure to use the WORD DOC attached which shows the graphs needed for the last questions. 

Write the definition for each of the following in detail:

1.       1- Economics – Definitions

2.       2- Law of Demand

3.      3 – Law of Supply

4.       4- Price Elasticity of Demand

5.       5- Macroeconomics

6.       6- Microeconomics

Identify 2 Products whose demand is price elastic and explain why it is?.

Which of the graphs for the best demonstrates the law of demand?

 a)     I

b)     II

c)     III

d)     IV

Which of the following graphs best demonstrates the law of supply?

 a)     I

b)     II

c)     III

d)     IV

Please be sure to use 2 reference.