The Law of Demand Implies That Demand Curves

question 299

Multiple Choice

The law of demand implies that demand curves

• A) slope down.
• B) slope up.
• C) shift rightward whenever the price rises.
• D) shift leftward whenever the price rises.

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Definitions:

Psyche

Describes the human soul, mind, or spirit, as the center of thought, emotion, and behavior.

Ego

The component of the psyche that is responsible for dealing with reality while mediating between the desires of the id and the morals of the superego.

Id

In Freudian psychoanalysis, the part of the mind in which innate instinctive impulses and primary processes are manifested.

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, enforcing societal norms and values and controlling the desires of the id.