Technological Advances Have Increased the Supply of Digital Cameras

question 16

Multiple Choice

Technological advances have increased the supply of digital cameras. As a result the:

• A) demand for digital cameras will increase, putting downward pressure on the price of digital cameras.
• B) quantity demanded for digital cameras will increase.
• C) quantity supplied of digitals cameras will increase, putting downward pressure on the price of digital cameras.
• D) demand and supply of digital cameras will both increase.

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Definitions:

Good Faith

An expectation for parties to act honestly and not mislead or deceive each other in a contract.

Holder in Due Course

A legal term referring to a party who has acquired a negotiable instrument in good faith and without notice of any defects.

Security Interest

A legal right or hold on assets that have been pledged as security, typically for the purpose of ensuring loan repayment.

Lien

A lien is a legal right or claim against a property by a creditor, securing the payment of a debt or the performance of some obligation.