Which Quadrant in the Matrix Below Represents Attributes of a Good

question 36

Multiple Choice

Which quadrant in the matrix below represents attributes of a good service guarantee?   

• A) (a)
• B) (b)
• C) (c)
• D) (d)

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Definitions:

Supply

The aggregate supply of a service or good ready for consumer purchase.

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 various prices.

Supply Curve

A graph showing the relationship between the quantity of a good that producers are willing to sell and the price of the good.

Y Axis

The vertical axis in a graph or chart, typically used to represent the range of a second variable in comparison to the first variable on the X axis.