The Principle That Producers Sell More of a Good or Service

question 106

Multiple Choice

The principle that producers sell more of a good or service when the price increases, all else held equal, is called the law of

• A)increasing profit.
• B)supply.
• C)demand.
• D)opportunity cost.
• E)reduced real income.

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Definitions:

Conscientiousness

A personality trait characterized by organization, dependability, and discipline.

Neuroticism

A personality trait involving a long-term tendency to be in a negative emotional state, such as anxiety, depression, and emotional instability.

Big Five Trait Dimension

A psychological framework that characterizes human personality using five wide-ranging dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Neuroticism

A personality trait characterized by a tendency towards anxiety, moodiness, worry, and jealousy.