The Law of Demand States That If the Price of a Good

question 133

Multiple Choice

The law of demand states that if the price of a good falls and all other things remain the same, the

• A) quantity demanded of the good falls.
• B) quantity demanded of the good rises.
• C) demand of the good rises.
• D) all of the statements associated with this question are correct.

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Definitions:

Fiduciary Objection

A legal or ethical concern related to the responsibility of managing another's money or assets with the highest degree of care.

Promotion

One of the four main elements of the marketing mix, it increases company sales by communicating product information to potential customers.

Source Objection

A type of sales objection where the customer hesitates or refuses to buy based on the credibility or reputation of the source or seller.

Established Companies

Companies with a long history of operation, which have demonstrated stability and growth over time.