Examlex
Which of the following is false?
Increase in Demand
Refers to a rise in the quantity of a product or service that consumers are willing and able to purchase at various prices, often due to factors like income increases, taste preferences, or changes in population.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.
Demand
The level of demand for products or services that purchasers can and are willing to pay for at numerous prices over a designated period.
Substitutes
Goods or services that can be used in place of each other, with the capability of satisfying similar consumer needs or desires.
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