Examlex

Solved

Scales Are Categorized in Two Ways According to the Text

question 53

Multiple Choice

Scales are categorized in two ways according to the text.The categories are:


Definitions:

Substitute

A product or service that can be used in place of another to satisfy the same want or need.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at that price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at each price.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied by producers.

Related Questions