The "Law of Demand" Refers to the Fact That, All

question 365

Multiple Choice

The "law of demand" refers to the fact that, all other things remaining the same, when the price of a good rises

• A) the demand curve shifts rightward.
• B) the demand curve shifts leftward.
• C) there is a movement down along the demand curve to a larger quantity demanded.
• D) there is a movement up along the demand curve to a smaller quantity demanded.

---

Definitions:

Testable Prediction

A statement made before conducting an experiment, which can be confirmed or disconfirmed through empirical investigation and experimentation.

Independent Variables

Variables that are manipulated or changed in an experiment to test their effects on dependent variables.

Falsifiable

A criterion for a scientific hypothesis, indicating that it can be disproved by experimental or observational evidence.

Many Assumptions

The use of multiple unverified beliefs or hypotheses as the basis for decision-making or reasoning.