When Economists Say That the Demand for a Product Has

question 89

Multiple Choice

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

• A) a greater quantity will be produced at any price.
• B) the price is too high for equilibrium.
• C) a smaller quantity will be produced at any price.
• D) demand was too high for producers to make a profit.
• E) the price is too low for equilibrium.

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Definitions:

Fluid

Characterizes materials or substances that can flow and do not have a fixed shape, or more broadly, refers to situations or concepts that are flexible and adaptable.

Colorblind Racism

A form of racism that asserts race does not matter and ignores systemic and historical inequities based on race.

Perpetuates

The act of making something continue indefinitely, often referring to social norms, inequalities, or behaviors.

Culture-Based Argument

A culture-based argument is a reasoning or persuasive technique that relies on cultural norms, values, beliefs, or practices to support a position or viewpoint.