The Law of Demand Implies That, Other Things Remaining the Same

question 295

Multiple Choice

The law of demand implies that, other things remaining the same,

• A) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease.
• B) as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will increase.
• C) as the demand for cheeseburgers increases, the price of a cheeseburger will fall.
• D) as income increases, the quantity of cheeseburgers demanded will increase.

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Definitions:

Minimum Intergroup Conflict

A state where there is negligible or the lowest amount of conflict between different groups within an organization or society.

Multicultural Organization

An organization that incorporates and respects a variety of cultural perspectives, practices, and contributions in its operations and strategies.

Culture-Group Biases

The tendency to interpret and judge peoples' behaviors, cultures, or ideas from one's own cultural perspective, leading to bias.

Ethnocentrism

The tendency to view one's own culture as superior and to judge other cultures based on the standards of one's own.