The Law of Demand Implies That

question 251

Multiple Choice

The law of demand implies that:

• A)consumers are not responsive to price changes.
• B)consumers will buy more at lower prices.
• C)sellers will offer more on the market at higher prices.
• D)sellers will offer less on the market at lower prices.

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Definitions:

Botulin Poisoning

A serious illness caused by botulinum toxin, which can result in muscle paralysis and is often linked to improperly preserved or canned food.

Endocrine System

The body’s “slow” chemical communication system; a set of glands that secrete hormones into the bloodstream.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, facilitating communication and response to external and internal stimuli.

Receptors

Proteins located on the surface of cells or within cells that bind to specific substances and trigger a response in the cell.