Which of the Following Statements About a Demand Curve Is

question 205

Multiple Choice

Which of the following statements about a demand curve is true?

• A) The demand curve for a good will not shift when the money income of consumers increases.
• B) If price increases, the demand curve will shift to the right.
• C) The demand curve for a good will not shift when price changes.
• D) If a supply curve shifts, thereby changing price, the demand curve will shift as well.
• E) If a demand curve shifts, the supply curve will shift as well irrespective of whether price changes.

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Definitions:

Deontology

An ethical theory based on the belief that actions are morally required, permitted, or forbidden based on a set of rules.

Virtue Ethics

A philosophical approach that emphasizes the role of character and virtue in moral philosophy rather than either the consequences of actions or the rules governing them.

Business Ethics

moral principles and standards that guide behavior in the world of commerce, influencing company policies and practices.

Profit Motive

The intent to engage in activities or transactions for the purpose of earning financial gain or profit.