According to Say's Law

question 21

Multiple Choice

According to Say's law,

• A) the demand curve is negatively sloped.
• B) the supply curve is positively sloped.
• C) supply creates its own demand.
• D) economic units should produce those goods for which they are low-opportunity-cost producers.

---

Definitions:

Upper Middle Class

A socioeconomic tier directly below the highest tier, typically characterized by higher education, professional careers, and a comfortable standard of living.

Working Class

A social group consisting of people employed in lower tier jobs, often involving manual or industrial labour, and receiving wages rather than salaries.

Federal Government

The national government of a federated state, which is responsible for national affairs.

Economic Roles

The functions and responsibilities different entities (like individuals, firms, and governments) play in the economy.