When the Price of a Good or Service Changes

question 35

Multiple Choice

When the price of a good or service changes,

• A)the demand curve shifts in the opposite direction.
• B)the supply curve shifts in the opposite direction.
• C)the supply curve shifts in the same direction.
• D)there is a movement along a given supply curve.

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Definitions:

ROM

Read-Only Memory, a type of non-volatile storage that is used to store firmware or software that is rarely changed or updated.

Unauthorized Access

The act of gaining entry into a computer system, network, or data without permission, thereby compromising security.

User Account

It refers to the credentials and information that allow an individual access to computer systems and networks, often personalized to save settings and data.

MS Excel

A spreadsheet program by Microsoft used for data analysis, calculation, and visual representation of data.