Why Does Quantity Demanded Decrease When Price Increases

question 82

Multiple Choice

Why does quantity demanded decrease when price increases?

• A)People choose to reduce consumption of the item.
• B)People "drop out" of the market for the item.
• C)People find substitutes for the item.
• D)All of the above are correct.

---

Definitions:

IQ

Intelligence Quotient, a score derived from standardized tests designed to measure human intelligence and cognitive abilities.

Dependent

In both general and statistical contexts, it refers to being influenced, determined by, or requiring aid from something else.

Methods of Assessment

Various techniques or tools used to evaluate, measure, or appraise certain abilities, knowledge, or traits in individuals.

Birth Order

The sequence in which children are born into a family, which is theorized to influence their personality and behavior.