Increase in Price of a Good Will Increase Consumers' Demand

question 8

Multiple Choice

Increase in price of a good will increase consumers' demand.This is a(n)

• A)positive statement.
• B)true statement.
• C)inverse statement.
• D)normative statement.

---

Definitions:

Responsible Stage

A phase of development or a behavioral standard where individuals are expected to show accountability and make decisions based on ethical considerations and societal norms.

Acquiring Knowledge

The process of gaining information, understanding, or skills through experience, education, or being taught.

Solving Practical Problems

Applying knowledge and skills to address real-world issues and challenges in an effective manner.

Cognitive Development

The process by which individuals perceive, think, and gain understanding of their world through the interaction of genetic and learned factors.