When an Economist Says That the Demand for a Product

question 173

Multiple Choice

When an economist says that the demand for a product has increased, this means that

• A) consumers are now willing to purchase more of this product at each possible price.
• B) the product has become particularly scarce for some reason.
• C) product price has fallen and, as a consequence, consumers are buying a larger quantity of the product.
• D) the demand curve has shifted to the left.

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Definitions:

Mathematical Description

The use of mathematical symbols and formulas to represent and solve real-world problems or theoretical concepts.

Molecular Orbital

A mathematical function describing the wave-like behavior of an electron in a molecule, used to calculate chemical and physical properties.

Atomic Orbitals

Formulas representing the whereabouts and wave-like characteristics of an electron in an atom.

Carbon-Carbon

Refers to bonds or interactions between carbon atoms within organic compounds; fundamental in organic chemistry and materials science.