If There Is a Decrease in Both the Supply and Demand

question 293

Multiple Choice

If there is a decrease in both the supply and demand for a good, which of the following will definitely occur?

• A) The price of the good will increase.
• B) The price of the good will decrease.
• C) The equilibrium quantity will increase.
• D) The equilibrium quantity will decrease.

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Definitions:

Kohlberg

Refers to Lawrence Kohlberg, a psychologist known for his theory on the stages of moral development in children and adults.

Self-esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states.

Transmitted

The act of sending or conveying something from one place or person to another, especially in the context of hereditary traits or diseases, or communication signals.

Internalization

The process of integrating beliefs, attitudes, or behaviors into one's own value system or way of being.