A Decrease in Demand with No Change in Supply Will

question 126

Multiple Choice

A decrease in demand with no change in supply will lead to _____ in equilibrium quantity and _____ in equilibrium price.

• A)an increase; an increase
• B)an increase; a decrease
• C)a decrease; an increase
• D)a decrease; a decrease

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Definitions:

Generalized Other

A concept in sociology that refers to the general notion that a person has of the common expectations and attitudes prevalent within the broader society.

Social Patterns

Describes the recurring behaviors, customs, and norms observed within societies that influence social interactions and relationships.

Agent of Socialization

Individuals, groups, or institutions that play a significant role in integrating people into social life by teaching social norms and cultural values.

Sociologists

Scholars or practitioners in sociology, the study of society, social institutions, and social relationships.