I. Answer the following Questions. (2pts Each) 1. What does quality refers to? 2. State the general notion and definition of law of demand. 3. State the factors that determine demand. 4. What is the basic difference between short run production & long-run Production? 5. What we call the difference between total revenues and total costs? 6. State the basic distinction between fixed and variable costs 7. What is the common issue between monopolistic & oligopoly market structures? 8. What we mean by market domination? 9. What we mean by merge, take over & vertical merger? 10. What are the constraints for a firm's growth? 11. What does demand refer to? 12. State the pros & cons of Corporation type of enterprise ownership. 13. How can be achieved a market security? (sate the mechanisms) 14. State the ways that marginal physical product can be changed in to monetary figure. 15. Figure out the factors determining consumer's demand( demand of product).​