The Law of Supply and Demand Asserts That

question 129

Multiple Choice

The law of supply and demand asserts that

• A)demand curves and supply curves tend to shift to the right as time goes by.
• B)the price of a good will eventually rise in response to an excess demand for that good.
• C)when the supply curve for a good shifts,the demand curve for that good shifts in response.
• D)the equilibrium price of a good will be rising more often than it will be falling.

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Definitions:

Germination Rate

The percentage of seeds that successfully sprout and begin to grow over a given period.

Seeds

The reproductive material of plants, usually enclosed in a protective outer covering, capable of developing into another plant.

Standard Deviations

Measures of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the set.

Candy Company

A business entity that specializes in the production and sale of confectioneries such as chocolates, candies, gums, and other sweet items.