When Economists Say That the Demand for a Product Has

question 163

Multiple Choice

When economists say that the demand for a product has decreased, they mean that

• A)consumers are going to purchase less at any given price.
• B)the price has increased and consumers will purchase less of the product.
• C)the demand curve has shifted to the right.
• D)the product has become more abundant and consumers therefore want it less.
• E)consumers would be willing to pay less to receive the same quantity.

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Definitions:

Bicarbonate

A buffer that plays a vital role in maintaining the pH balance in the blood and other bodily fluids.

Pancreatic Juice

A liquid secreted by the pancreas that contains a variety of enzymes critical for the digestion of food in the small intestine.

Goblet Cells

Epithelial cells that secrete mucus to protect and lubricate many internal body surfaces.

Produce Mucus

The process by which mucous membranes secrete mucus, a thick protective fluid.