When Economists Say the Quantity Demanded of a Product Has

question 263

Multiple Choice

When economists say the quantity demanded of a product has decreased, they mean the

• A) demand curve has shifted to the left.
• B) demand curve has shifted to the right.
• C) price of the product has fallen, and consequently, consumers are buying more of it.
• D) price of the product has risen, and consequently, consumers are buying less of it.

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Definitions:

Metal Alloy

A mixture of two or more elements, where at least one is a metal, created to enhance properties such as strength, durability, or resistance to corrosion.

Zinc

A chemical element with the symbol Zn and atomic number 30, often used for galvanizing iron and steel to protect against rust.

Copper

A chemical element with symbol Cu and atomic number 29, known for its high thermal and electrical conductivity.

Production Function

A mathematical representation describing the relationship between input factors and the output of goods or services.