The Name Peter Is Entered in Cell B4

question 21

Multiple Choice

The name Peter is entered in cell B4. This is a ____.

• A) label
• B) formula
• C) number
• D) value

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Definitions:

Supply Increases

Occurs when the quantity of a good or service that a market can offer rises.

Law of Demand

The law of demand states that, all else being equal, as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa.

Quantity Demanded

The complete volume of a particular good or service that purchasers are both eager and financially able to acquire at a certain price within a market.

Price Increases

Situations where the cost of goods or services rise, often reflecting inflation or increased production costs.