A Decrease in the Price of a Good or Service

question 196

Multiple Choice

A decrease in the price of a good or service leads to a(n) ________ that leads to a(n) ________.

• A) decrease in demand; movement along the demand curve
• B) increase in quantity demanded; movement along the demand curve
• C) increase in demand; shift of the demand curve
• D) decrease in quantity demanded; shift of the demand curve

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Definitions:

Low-Ball Technique

The low-ball technique is a tactic in persuasion that involves initially presenting an attractive offer or price which is then increased after initial agreement.

Consistency

The quality of always behaving or performing in a similar way, following the same principles or course.

Labeling Technique

A social psychology strategy where one labels a person or group with a term in order to influence their behavior or perception, often used in persuasion and compliance.

Commitment And Consistency

The psychological principle that suggests individuals strive to be consistent in their beliefs and actions, especially when they have made a public commitment.