If the Price of Apple Pies Rose to $100 Per

question 345

Multiple Choice

If the price of apple pies rose to $100 per pie,consumers would purchase fewer pies than if the price were $5 per pie.If the price of ice cream fell to $0.30 per scoop,consumers would purchase more ice cream than if the price were $5 per scoop.These relationships illustrate the

• A) law of demand.
• B) law of supply.
• C) difference between normal and inferior goods.
• D) difference between substitute and complement goods.

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Definitions:

Blood Sugar

The concentration of glucose present in the blood, crucial for providing energy to body cells and maintaining healthy bodily functions.

Satiety

The feeling of being full or satisfied, typically in the context of eating, which reduces the desire to eat more food.

Drive Reduction

A theory in psychology suggesting that psychological needs create an aroused state that drives an organism to reduce that need by engaging in some goal-directed behavior.

Motivated Behaviors

Actions driven by internal desires and needs, such as hunger or achievement, guiding the organism towards specific goals.