Examlex
Alexi has conditioned Yuri to salivate when a red light is presented. To which of the following colours of light is Yuri most likely to salivate?
Demand
The desire and ability of consumers to purchase goods and services at various prices.
Law of Demand
States that, all other factors being equal, as the price of a good increases, demand for that good decreases, and vice versa.
Quantity Demanded
The amount of a good or service that consumers are willing and able to purchase at a specific price.
Price
The amount of money required to purchase a good or service, determined by factors such as supply and demand.
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