The Law of Demand Exists Because, in General

question 49

Multiple Choice

The law of demand exists because, in general:

• A) people find that each additional unit of a good consumed has less value.
• B) people find that each additional unit of a good consumed has more value.
• C) people are willing to pay more for additional units of a good.
• D) the demand price of a good rises as additional units are consumed.

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Definitions:

CEO

Chief Executive Officer, the highest-ranking executive in a company, responsible for major corporate decisions and overall management.

Corporate Level

Pertains to the highest strategic tier in an organization, involving decisions that affect the company as a whole.

CMO

Stands for Chief Marketing Officer, a senior executive responsible for overseeing the development and execution of strategies to promote a company's brand and products.

CEO

The Chief Executive Officer, the highest-ranking executive in a company, responsible for making major corporate decisions, managing overall operations, and acting as the main point of communication between the board of directors and corporate operations.