In the Context of Supply and Demand, Which of the Following

question 94

Multiple Choice

In the context of supply and demand, which of the following statements is true of the free market system?

• A) People tend to buy more products with lower prices.
• B) People tend to look for products solely on the basis of quality.
• C) As the supply increases, the demand also increases.
• D) As the supply increases, the price also increases.

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Definitions:

Discouraged

A feeling of losing confidence or enthusiasm for something.

Hopeless

A state of despair in which an individual perceives their situation as bleak or insurmountable, lacking optimism or solutions.

Role Model

An individual admired for their qualities or achievements and considered as an example to emulate.

Communication

The process of transmitting information, ideas, emotions, skills, and knowledge between two or more individuals through verbal, written, nonverbal, and digital means.