A Change in Demand Means There Has Been a Shift

question 119

Multiple Choice

A change in demand means there has been a shift in the demand curve,and a change in quantity demanded

• A)Results from a change in price of other goods.
• B)Means a shortage or surplus will result from holding prices constant.
• C)Also means demand has shifted.
• D)Means that price has changed and there is movement along the demand curve.

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Definitions:

Subsidiary

A company that is completely or partly owned and partly or wholly controlled by another company.

FIFO Inventory Reporting

An approach to reporting inventory where the oldest stock is recorded as sold first; reiterates the First-In, First-Out method in financial statements.

Consistent Application

The principle that accounting rules and methods should be applied the same way in each accounting period to ensure comparability of financial statements.

All-Inclusive Concept

A pricing strategy or business model where a single price includes all related services and products.