If Price Rises, What Happens to Demand for a Product

question 88

Multiple Choice

If price rises, what happens to demand for a product?

• A)It increases.
• B)It decreases.
• C)It does not change.
• D)Uncertain-economic theory has no answer to this question.

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Definitions:

Dodd-Frank Wall Street Reform

A comprehensive set of financial regulations passed in 2010 in response to the 2008 financial crisis, aimed at reducing risk in the financial system.

Financial Services Industry

A sector of the economy made up of firms and institutions that provide financial products and services to commercial and retail customers.

Defense Industry Initiative

A set of principles adopted by defense contractors to ensure ethical conduct and compliance with the law in defense procurement practices.

Business Ethics And Conduct

Refers to the moral principles and standards that guide behavior in the world of business.