In Which of the Following Cases Must Price Always Fall

question 37

Multiple Choice

In which of the following cases must price always fall?

• A)Demand increases and supply increases.
• B)Demand decreases and supply decreases.
• C)Supply increases and demand remains constant.
• D)Demand decreases and supply increases.
• E)Both c and d

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Definitions:

Economic Conditions

The state of the economy at a given time, including factors like growth rates, unemployment, and inflation.

Job Loss

The act of becoming unemployed through layoffs or termination, affecting an individual's economic standing and often their identity.

Minimum Wage

The lowest legal hourly pay that employers can offer their workers, set by law to ensure a basic standard of living for employees.

Discouraged Worker

describes an individual who is not actively seeking employment due to the belief that no jobs are available for them or that they lack the necessary skills or qualifications.