The Law of Demand Is Illustrated by a Demand Curve

question 289

Multiple Choice

The law of demand is illustrated by a demand curve that is:

• A)vertical.
• B)horizontal.
• C)upward sloping.
• D)downward sloping.

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Definitions:

Deficit Needs

A concept in Maslow's hierarchy of needs that refers to the basic requirements for physical and psychological well-being, such as food, safety, and belonging.

Declining Percentage

A decrease in the proportion or ratio of a quantity relative to a whole or to other relevant quantities over a specified period.

Self-Actualization Theory

A concept in humanistic psychology that represents the realization of a person's potential, self-fulfillment, seeking personal growth and peak experiences.

Rigorous

Marked by a high level of strictness or severity, often in the context of academic standards, research methodology, or physical training.