The Law of Demand States That

question 46

Multiple Choice

The law of demand states that:

• A)price and quantity demanded are inversely related
• B)the larger the number of buyers in a market, the lower product price
• C)price and quantity demanded are directly related
• D)consumers will buy more of a given product at high prices than they will at low prices

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Definitions:

Corporate Culture

The beliefs, behaviors, values, and symbols accepted by members of an organization, that influence their actions and distinguish the organization from others.

Organizational Factor

Elements within a workplace or corporate culture that influence how the organization operates, including its procedures, policies, norms, and attitudes that contribute to its overall performance and employee satisfaction.

Ethical Climate

The perceived practices, values, and ethical beliefs that characterize an organization's environment and influence ethical decision-making.

Normative Business Ethics

The study of ethical actions in business, focusing on the standards and principles that govern right and wrong behavior in the commercial world.