Which of the Following Statements Is FALSE

question 85

Multiple Choice

Which of the following statements is FALSE?

• A) If there is an increase in the demand for a product, consumers want to buy more of the product at each and every possible price.
• B) A decrease in demand shifts the demand curve leftward toward the origin, while a decrease in quantity demanded involves a movement upward along a particular demand curve.
• C) If the price of a good rises, quantity demanded of the good decreases and the demand curve shifts toward the origin as long as supply is static.
• D) A change in the demand for a product is caused by factors other than changes in the product's price.

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Definitions:

Speculative Way

Refers to approaches or methods based on conjecture without firm evidence, often used in investing, philosophy, or theoretical research.

Physical World

The tangible, material universe encompassing all matter, energy, planets, natural phenomena, and physical laws.

Quantitative

Relating to, measuring, or measured by the quantity of something rather than its quality.

Class Relations

The interactions and dynamics between different socioeconomic classes within a society, often influencing power, resources, and opportunities.