Which One of the Following Correctly Describes How Price Adjustment

question 108

Multiple Choice

Which one of the following correctly describes how price adjustment eliminates a shortage?

• A)As the price rises,the quantity demanded decreases and the quantity supplied increases.
• B)As the price rises,the quantity demanded increases and the quantity supplied decreases.
• C)As the price falls,the quantity demanded decreases and the quantity supplied increases.
• D)As the price falls,the quantity demanded increases and the quantity supplied decreases.
• E)As the price falls,the quantity demanded increases and the quantity supplied increases.

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Definitions:

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Nacirema

A term used in anthropology and sociology to examine aspects of the behavior and society of American people, derived by spelling 'American' backwards, popularized by Horace Miner in his article on body rituals.

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Social scientists who study the development, structure, and functioning of human society, including social behaviors, cultures, and institutions.

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The physical area surrounding individuals that they consider psychologically theirs, infringement of which can cause discomfort or distress.