When the Price of a Good Increases, It

question 87

Multiple Choice

When the price of a good increases, it

• A)leads suppliers to place few goods on the market.
• B)the demand for the good shifts.
• C)leads consumers to want to buy more or less than before at a given price.
• D)a movement down along the demand curve will occur.

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Definitions:

Direct Labor

The cost of wages paid to workers directly involved in the production of goods or provision of services.

Direct Materials

The raw materials directly traceable to the manufacturing of a product and included in the cost of goods sold.

Administrative Staff

Employees responsible for the management and support of an organization, often handling tasks related to office work, clerical duties, and general administration.