If the Demand for a Product Increases and the Supply

question 73

True/False

If the demand for a product increases and the supply of the same product decreases,the equilibrium price will increase.

---

Definitions:

Manifests Honesty

The overt demonstration of honesty by individuals, characterized by truthfulness, transparency, and integrity in actions and statements.

Ethical Leadership Principle

Guidelines that direct the behavior, practices, and decisions of leaders to be morally right and honorable in their role.

Teleological Ethical Theories

Ethical theories that determine the morality of an action based on its outcomes or goals; often contrasted with deontological theories, which focus on the morality of actions themselves.

Outcomes

The results or consequences of actions taken within a specific context or scenario.