When the Demand for a Good Decreases, Its Equilibrium Price

question 438

Multiple Choice

When the demand for a good decreases, its equilibrium price ________ and equilibrium quantity ________.

• A) falls; decreases
• B) falls; increases
• C) rises; decreases
• D) rises; increases

---

Definitions:

Professional Accountability

The responsibility of professionals to act ethically, to adhere to standards, and to be answerable for their actions, decisions, and the outcomes of their work.

Legal Aspects

The components or issues of a situation that pertain to the law, including regulations, rights, and legal responsibilities.

Confidentiality

The ethical principle or legal right that mandates keeping certain information shared by a client or patient in a professional setting private.

Legal Perspective

An understanding or interpretation of matters based on law and legal principles, often considering the implications and consequences of legal actions and decisions.