An Abstract Word Stands for Something You Can Touch, See

question 127

True/False

An abstract word stands for something you can touch, see, taste, hear, or feel.

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Definitions:

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price within a certain period.

Quantity Supplied

The amount of a good or service that producers are willing to sell at a given price.

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product.

Demand Decrease

A situation where the quantity of a product or service desired by buyers decreases, usually due to changes in consumer preferences, incomes, or prices of related goods.