Possible Causes of an Upward-Sloping Demand Curve Are

question 112

Multiple Choice

Possible causes of an upward-sloping demand curve are

• A)consumers judge the quality of a product based on quality.
• B)consumers judge the quality of a product based on price.
• C)consumers judge the quality of a product based on recommendations by friends.
• D)consumers judge the quality of a product based on reviewer ratings.

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Definitions:

Fraudulent Misrepresentation

A false statement of fact made by a person who knows, or should know, that it is false, and made with the intention of deceiving another.

Authority

The legal power or right given to an individual or body to make decisions, enforce rules, or govern.

Identity

The distinguishing character or personality of an individual; aspects that make up who someone is.

Warranty of Authority

A guarantee made by an agent that they have the authority from their principal to perform a certain act.