The "Other Things Being Equal" Clause in the Law of Demand

question 130

Multiple Choice

The "other things being equal" clause in the law of demand does not allow which of the following factors to change?

• A) Consumer income.
• B) The prices of other goods.
• C) Consumer tastes and preferences.
• D) All of these.

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Definitions:

Goods

Physical items that are produced for sale or to be used.

Distrust

The feeling of skepticism or lack of confidence in the reliability or integrity of someone or something.

Today's Economy

The current state and dynamics of financial systems and markets globally or within specific countries, including trends and challenges.

Identification-Based Trust

A form of trust that arises when individuals can identify with each other's desires and intentions, leading to a higher level of mutual understanding.