A Basic Assumption Used in Many Economic Models Is

question 110

Multiple Choice

A basic assumption used in many economic models is:

• A) as price goes up, the amount purchased will go up too.
• B) as price goes up, less will be offered for sale on the market.
• C) if the underlying theory doesn't represent reality, it is not useful.
• D) ceteris paribus, which means all other things remain unchanged.

---

Definitions:

Transmitted

The act or process of transferring something from one place, person, or thing to another, often used in the context of diseases or information.

Reception Area

A space or room in a building where visitors are greeted and wait to be seen.

Special Needs

Refers to individual requirements for people with disabilities or those who need special support for learning differences or health care.

Handrails

Safety features installed alongside stairs or in corridors to provide support and stability.