A Simple Supply Curve Shows That an Increase in the Price

question 42

Multiple Choice

A simple supply curve shows that an increase in the price of a good will cause the quantity supplied to

• A) decrease.
• B) increase.
• C) remain constant.
• D) fluctuate randomly around its equilibrium value.

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Definitions:

Individual Psychology

A psychological framework that focuses on the uniqueness of the individual and how they strive for perfection and cope with feelings of inferiority.

Sigmund Freud

A neurologist from Austria who pioneered the field of psychoanalysis, a therapeutic approach focused on treating mental disorders through conversational interactions between a psychoanalyst and the patient.

Inferiority Complex

A psychological condition in which an individual feels a deep sense of inadequacy and unworthiness, often stemming from comparison with others.

Alfred Adler

A psychologist and founder of the school of individual psychology, known for his theories on personality, lifestyle, and the importance of feelings of inferiority.