The Law of Demand States That

question 280

Multiple Choice

The law of demand states that:

• A)price and quantity demanded are inversely related.
• B)the larger the number of buyers in a market, the lower will be product price.
• C)price and quantity demanded are directly related.
• D)consumers will buy more of a product at high prices than at low prices.

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Definitions:

Federal Contract Compliance

Refers to the adherence to laws and regulations that require businesses and organizations with federal contracts to follow nondiscrimination and affirmative action guidelines.

Government Contractors

Businesses or individuals that enter into contracts with government entities to provide goods or services.

Actively Pursuing

Engaging with dedication and effort towards achieving a specific goal, often used in the context of job searching or career advancement.

Fourteenth Amendment

An amendment to the United States Constitution granting citizenship to all persons born or naturalized in the United States, including former slaves, and guaranteeing all citizens "equal protection of the laws."