The Distinction Between Demand and the Quantity Demanded Is Best

question 6

Multiple Choice

The distinction between demand and the quantity demanded is best made by saying that:

• A) demand is represented graphically by a curve and quantity demanded is a point on that curve.
• B) the quantity demanded is represented graphically by a curve and demand is a point on that curve.
• C) the quantity demanded is in a direct relation with prices, whereas demand is in an inverse relation.
• D) the quantity demanded is in an inverse relation with prices, whereas demand is in a direct relation.

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Definitions:

Double-Declining-Balance

A method of accelerated depreciation which doubles the normal depreciation rate.

Scrap Value

An estimated calculation of what an asset will be worth at the time it is sold, after it is no longer useful.

Sum-Of-The-Years-Digits

An accelerated method of depreciation which totals the digits of an asset's useful life and allocates the cost based on a fraction of those digits.

Scrap Value

The calculated resale value of an asset at the termination of its functional life.