The Price of Gasoline Increases by $1 Per Litre

question 64

Multiple Choice

The price of gasoline increases by $1 per litre. What is the most likely impact on supply and demand?

• A) demand down, supply down
• B) demand up, supply up
• C) demand down, supply up
• D) demand up, supply down

---

Definitions:

Accounting Firm

A business that provides services related to financial record keeping, audit, and taxation.

Seminar

An instructional event typically held to discuss or explore specific subjects or to provide training on a particular topic.

Partnership Act

Legislation that sets out the rights and obligations of partners in a partnership business structure.

Rights

Entitlements or permissions, either legal, social, or moral, that individuals have in a society.