According to the Law of Supply, What Would We Predict

question 6

Multiple Choice

According to the law of supply, what would we predict will occur when the price of a good increases?

• A) More will be produced.
• B) Less will be consumed.
• C) More will be consumed.
• D) Less will be produced.

---

Definitions:

Patent

A legal right granted by a government to an inventor, giving the holder exclusive rights to the invention for a certain period, typically 20 years.

Trademark Issues

Legal challenges related to the unauthorized use or imitation of unique brand symbols, names, or slogans protected by trademark laws.

Dietary Restrictions

Guidelines that restrict or eliminate certain foods or ingredients in one's diet for health, religious, or ethical reasons.

Communication Aspect

Refers to the ways in which information is transmitted and received in the marketing process, including advertising, public relations, and personal selling.