A Fall in the Price of a Good Causes an Increase

question 118

Multiple Choice

A fall in the price of a good causes an increase in its:

• A) quantity demanded.
• B) demand.
• C) quantity supplied.
• D) supply.

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Definitions:

Task Goals

Objectives or aims that pertain to the completion of specific tasks, often setting the direction and purpose for individual or team effort.

Behavioural Self-management

The process of controlling one's own behavior through self-observation, self-evaluation, and self-reinforcement to achieve personal goals.

Equity Comparisons

The process of comparing one's own ratio of contributions and rewards with the ratios of others to gauge fairness.

Goal-setting Theory

A motivation theory which posits that setting specific and challenging goals, along with appropriate feedback, enhances performance.