Examlex
Which of the following is TRUE?
Supply Curve Shift
A change in the position of the supply curve, either to the left or right, indicating a change in the quantity supplied at every price level, due to factors other than price.
Downward-Sloping Demand
The economic principle that, all else being equal, as the price of a good or service decreases, consumer demand for it will increase.
Equilibrium Price
The price at which the quantity of a product offered for sale equals the quantity of the product in demand.
Assembly Line Technology
A manufacturing process in which parts are added to a product in a sequential manner to create a finished product faster and more efficiently.
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