If the Demand for a Good Decreased, What Would Be

question 326

Multiple Choice

If the demand for a good decreased, what would be the effect on the equilibrium price and quantity?

• A) Price would increase, and quantity would decrease.
• B) Price would decrease, and quantity would decrease.
• C) Price would increase, and quantity would increase.
• D) Price would decrease, and quantity would increase.

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Definitions:

Educational Programs

Structured sets of learning activities or curriculum designed to achieve specific educational aims or qualifications.

Perspective

A particular attitude towards or way of regarding something; a point of view, often influenced by one's background, beliefs, or experiences.

Maturation

The process of becoming mature; in biological terms, it refers to the process of growth and development of organisms.

Mental Categories

Cognitive groupings or classifications of objects, concepts, or events based on shared characteristics or properties.