An Increase in Price Is Likely to Affect Demand in What

question 71

Multiple Choice

An increase in price is likely to affect demand in what way?

• A)Demand will increase.
• B)Demand will decrease.
• C)Demand will not change.
• D)This would only affect supply and not demand.

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Definitions:

Women-Owned Businesses

Businesses that are at least 51% owned, controlled, and operated by one or more women.

Past Decades

Refers to the previous ten-year periods, looking backward from the current date, emphasizing historical trends or changes.

Human Resources

The department within an organization that manages employee relations, recruitment, training, and compensation.

Change and Ambiguity

Refers to the uncertainties and unpredictabilities that come with alterations in circumstances, conditions, or environments.