A Supply Curve

question 382

Multiple Choice

A supply curve:

• A) has a negative slope.
• B) is based on the assumption of a stable demand curve.
• C) illustrates the negative relationship between price and quantity supplied.
• D) illustrates the positive relationship between price and quantity supplied.
• E) shifts about in random fashion.

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Definitions:

Assimilation

The process by which new information is taken in and incorporated into one's existing cognitive structures and schemas.

Centration

The cognitive tendency in early childhood to focus on one salient aspect of a situation while neglecting other possibly relevant aspects.

Conservation

In environmental science, the preservation, protection, or restoration of the natural environment and wildlife; in cognitive development, a term introduced by Piaget referring to the understanding that certain properties of objects remain the same despite changes in their form or appearance.

Egocentrism

A cognitive trait where an individual has difficulty understanding or assuming any perspective other than their own.