The "Law of Demand" Most Directly Means That Consumers Buy

question 95

Multiple Choice

The "law of demand" most directly means that consumers buy

• A) less of a good the higher its price.
• B) more of a good the higher their incomes.
• C) buy less of a good the greater is its supply.
• D) buy more of a good the less is its supply.

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Definitions:

Recover in Court

The process of obtaining a judicial remedy or compensation through legal proceedings.

Drawee

The party in a financial transaction who is directed to pay a specified amount of money on a check or draft.

Certify

The act of officially recognizing someone or something as having met a particular standard or criteria.

Federal Reserve

The central banking system of the United States, responsible for implementing monetary policy, supervising banks, and providing financial services.