The Law of Demand Refers to How

question 11

Multiple Choice

The law of demand refers to how

• A)demand changes when people's incomes change.
• B)demand changes when the prices of substitutes and complements change.
• C)the price of the good changes when people's demand for the good changes.
• D)the quantity demanded changes when the demand for the good changes.
• E)the quantity demanded changes when the price of the good changes.

---

Definitions:

FIFO

First In, First Out (FIFO) is an inventory valuation method where goods that are first acquired are the first to be sold, useful in managing inventory and costs.

Nonpoint Pollution

Pollution that originates from multiple and diffuse sources rather than from identifiable or discrete sources, common in agricultural and urban runoff.

Point Pollution

Pollution that can be traced to a single, identifiable source, such as a factory's waste discharge pipe.

Total Mass

Refers to the complete or overall mass of an object or collection of objects, representing the quantity of matter they contain.