If the Price of a Good Rises,then Moving Along a Demand

question 1

Multiple Choice

If the price of a good rises,then moving along a demand curve the percentage change in the quantity demanded will be

• A) positive.
• B) negative.
• C) zero.
• D) either positive, negative, or zero depending on how the demand curve shifted.
• E) undefined.

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Definitions:

Goods And Services

The products (goods) and activities (services) offered in the market for purchase, representing the output of an economy’s production.

Operating Costs

Operating costs are expenses associated with the day-to-day functions of a business, including costs for goods, services, rent, and salaries.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Construction

The process or activity of building structures such as houses, roads, and buildings.