When Economists Say That the Demand for a Product Has

question 163

Multiple Choice

When economists say that the demand for a product has decreased, they mean that

• A)consumers are going to purchase less at any given price.
• B)the price has increased and consumers will purchase less of the product.
• C)the demand curve has shifted to the right.
• D)the product has become more abundant and consumers therefore want it less.
• E)consumers would be willing to pay less to receive the same quantity.

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Definitions:

Cushioning Effect

A psychological or physical phenomenon where a buffer exists or is created to lessen the impact of a stressful or negative event.

Neural Impulse

Refers to the electrical signal that travels along a neuron, enabling communication within the nervous system.

Dendrites

Branching, tree-like structures in neurons that receive and integrate signals from other cells.

Soma

In biological context, refers to the body of an organism as distinct from its reproductive cells; in Huxley's literary context, a happiness-inducing drug.