The Law of Demand Shows That

question 118

Multiple Choice

The law of demand shows that:

• A) there is an inverse relationship between price and quantity demanded.
• B) the demand curve is positively sloped.
• C) when the price of a good increases, the quantity demanded increases.
• D) the supply curve is vertical.
• E) individual demand is the same as market demand.

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Definitions:

Genetic Factors

Elements within an organism's genetic makeup that influence its traits, characteristics, and susceptibility to certain conditions.

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his pioneering work in child development, especially his theory of cognitive development.

Construct Understandings

The process of forming mental concepts or models of how the world operates from experiences and information.

Sponges

Simple aquatic animals with porous bodies through which water flows, known for their lack of organs and ability to filter feed.