drag the tiles to the boxes to form correct pairs. match the scenarios with the economic concepts they…

Brief Explanations:

1. When the price of gold rises and people buy silver jewelry instead, it's the substitution effect as consumers switch to a substitute good due to price - change.
2. When the price of gas increases and people drive less, it reflects the income effect. Higher gas prices reduce the real purchasing - power of consumers' income, so they consume less gas.
3. A new factory in a village providing livelihoods for villagers is a positive externality as it has a beneficial impact on third - parties (villagers) not directly involved in the factory's production.
4. A new factory in a village causing noise pollution is a negative externality as it has a harmful impact on third - parties (villagers) not directly involved in the factory's production.

Answer:

1. The rising price of gold causes people to buy silver jewelry instead. - substitution effect
2. When the price of gas increases, people drive less. - income effect
3. A new factory in a village provides livelihoods for the villagers. - positive externality
4. A new factory in a village causes noise pollution. - negative externality