People Generally Purchase Less of a Commodity as Its Price

question 153

Multiple Choice

People generally purchase less of a commodity as its price increases.This implies that the relationship between quantity purchased and the price of the commodity must have a

• A)slope always equal to one.
• B)positive slope.
• C)zero slope.
• D)negative slope.

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Definitions:

Need for Cognition

A personality trait representing the tendency of an individual to engage in and enjoy effortful cognitive activities.

Extraversion

A personality trait characterized by outgoingness, high energy, and sociability.

Fear Arousals

The emotional response triggered by perceived threats, often used in persuasive communication to motivate behavior change by highlighting potential dangers.

Persuasion

An effort by a source to change the beliefs or attitudes of a target person through the use of information or argument.