The Price of a Good Will Fall If

question 159

Multiple Choice

The price of a good will fall if

• A)demand for the good increases.
• B)supply of the good decreases.
• C)supply of the good increases.
• D)demand for the good remains constant.
• E)supply of the good remains constant.

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Definitions:

Place Utility

The value added to products by having them in a location where they are accessible to potential buyers.

Digital Marketspace

An online environment where goods and services are traded, leveraging digital technologies for advertising, sales, and customer engagement.

Digital

Pertaining to technology that generates, stores, and processes data in terms of two states: positive and non-positive. Digital technology includes the internet, mobile computing, and smart devices.

Traditional Marketplace

A physical space where buyers and sellers gather to exchange goods and services, often characterized by face-to-face transactions.