As the Price of Good Z Falls,the Quantity Demanded of Good

question 56

Multiple Choice

As the price of good Z falls,the quantity demanded of good Z rises,but the quantity supplied of good Z does not change.Based upon this information we can conclude that the demand curve for good Z is ________________ and the supply curve for good Z is ________________.

• A) downward sloping; upward sloping
• B) upward sloping; downward sloping
• C) upward sloping; vertical
• D) downward sloping; vertical
• E) vertical; downward sloping

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Definitions:

Entrepreneur

An individual who starts and operates a business venture, assuming the risk for the sake of the profit.

Risk

The possibility of suffering harm or loss; uncertainties affecting the outcome of investment decisions.

Start-Up Process

The series of steps entrepreneurs follow to establish a new business, including idea generation, market research, and securing financing.

Harvest

The stage when the owner removes him or herself from the business. Harvesting a business can be thought of as picking the fruit after years of labor.