The Law of Supply Insures That Supply Curves Slope Upward

question 224

True/False

The Law of Supply insures that supply curves slope upward.

---

Definitions:

Certificates of Deposit

Fixed-term financial instruments issued by banks that pay interest until maturity, when they can be redeemed for the original amount plus accrued interest.

Petty Cash

A small amount of cash on hand used for covering minor expenses in a business.

Current Asset

A current asset is an asset that is expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Bank Checking Account

A bank account that allows the holder to deposit and withdraw money and write checks.