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A Child Understands That If an Elephant Is Bigger Than

question 2

Multiple Choice

A child understands that if an elephant is bigger than a bear and a bear is bigger than a cat, then an elephant is bigger than a cat. This demonstrates the child's understanding of _________.


Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price in a specified period.

Increase in Demand

A situation where there is a rise in the quantity of a product or service that consumers are willing and able to buy at given prices.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a certain period.

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