Suppose Demand Decreases and Supply Decreases

question 230

Multiple Choice

Suppose demand decreases and supply decreases. Which of the following will happen?

• A) Equilibrium price will rise, fall, or stay the same while equilibrium quantity will decrease.
• B) Equilibrium price will rise, fall, or stay the same while equilibrium quantity will increase
• C) Equilibrium quantity will rise, fall, or stay the same and equilibrium price will increase.
• D) Equilibrium quantity will rise, fall, or stay the same while equilibrium price will decrease.
• E) The change in equilibrium price and quantity cannot be determined.

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Definitions:

Oppression

Oppression involves the systemic and pervasive exercise of power that disadvantages and subjugates individuals or groups, restricting their freedom and rights.

Socially Constructed

A concept or perception that is created and developed by society, and understood through cultural or social practice rather than existing inherently or naturally.

Theoretical Perspective

A specific viewpoint or set of principles that guides research and understanding within a discipline.

Moral Standards

Are principles of behavior based on ideas of right and wrong that guide individual or group actions within society.