If There Is a Decrease in Demand for Lettuce, We

question 155

Multiple Choice

If there is a decrease in demand for lettuce, we would expect

• A) both the price and quantity sold to increase.
• B) both the price and quantity sold to decrease.
• C) the price to decrease and the quantity sold to increase.
• D) the price to increase and the quantity sold to decrease.

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Definitions:

Depositor's Account

A financial account held at a bank or financial institution, into which a depositor can deposit and withdraw money.

Debit Memorandum

A document issued by a purchaser and sent to a seller indicating the amount and reasons for deductions in the payment or an increase in the purchaser's debt.

Bank Service Charge

A fee charged by a bank for the maintenance of an account or for processing transactions.

Bank Reconciliation

The process of comparing and adjusting the balance shown in a company's bank statement with the amount shown in the company's own records.