In Which Statement(s) Is "Demand" Used Correctly? (I) "An Increase

question 243

Multiple Choice

In which statement(s) is "demand" used correctly? (I) "An increase in the price of hamburgers will reduce the demand for hamburgers."
(II) "An increase in the price of hamburgers will reduce the demand for hamburger buns."

• A) in both statements I and II
• B) in statement I only
• C) in statement II only
• D) in neither statements I nor II

---

Definitions:

Maturity Value

Maturity Value is the amount payable to an investor at the maturity date of a financial instrument, typically including the principal and the interest.

Note Receivable

A written promise to pay a specified amount, usually interest-bearing, that is recognized as an asset on the lender's balance sheet.

Promissory Notes

Written promises to pay a specified sum of money to a certain person or entity at a defined time or on demand.

Legal Claim

A demand for compensation, payment, or property by a person or entity asserting a right against another in a court of law.