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Kelvin Plays the Violin in His City's Youth Orchestra

question 30

Multiple Choice

Kelvin plays the violin in his city's youth orchestra.The orchestra practices three times a week and holds seasonal concerts.Which of the following characteristics best describes the orchestra as a group?


Definitions:

Demand

The willingness and ability of consumers to purchase goods or services at a given price.

Price

The total money amount demanded for the purchase of a service or good.

Product

An item offered for sale which can be a good, a service, or an idea.

Supply

The total quantity of a good or service that is available for purchase at various price levels in a given market.

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