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:

Amazon

An American multinational technology company primarily known for its e-commerce platform, along with cloud computing, digital streaming, and artificial intelligence.

Disintermediation

The removal of intermediaries in a supply chain, allowing for direct transactions between producers and consumers.

Online Services

Web-based applications and resources that provide users with various functionalities over the Internet.

New Ventures

Initiatives or businesses started to explore new markets or create new products.