If We Observe an Increase in the Price of a Good

question 159

Multiple Choice

If we observe an increase in the price of a good and an increase in the amount of the good bought and sold, this could be explained by

• A) an increase in the supply of the good.
• B) an increase in the demand for the good.
• C) a decrease in the demand for the good.
• D) a decrease in the supply of the good.

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Definitions:

Deprivation Dwarfism

A condition caused by extreme emotional or physical deprivation during childhood, resulting in stunted physical growth.

Growth Hormone

A hormone that stimulates growth, cell reproduction, and cell regeneration in humans and animals.

Genetic Defect

A mutation or abnormality in an individual's DNA that can lead to physical or physiological disorders or diseases.

Virus

is a microscopic infectious agent that replicates only inside the living cells of an organism and can cause various diseases.