An Increase in Price Will Lead to an Increase in Quantity

question 43

Multiple Choice

An increase in price will lead to an increase in quantity supplied. This statement is

• A) the law of supply.
• B) the law of demand.
• C) untrue always.
• D) a normative statement.

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Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale.

Unprecedented Way

A manner or approach that is completely new and has no known precedents.

Years

Units of time consisting of 365 or 366 days, used to measure longer periods like decades and centuries in the Gregorian calendar.

Anti-globalization Movement

A social movement critical of economic globalization, arguing it leads to exploitation, environmental degradation, and a loss of national sovereignty.