When the Price of a Good Rises

question 21

Multiple Choice

When the price of a good rises:

• A) demand falls
• B) quantity demanded falls
• C) quantity supplied falls
• D) quantity demanded rises

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Definitions:

Self-esteem

The subjective evaluation or perception of one's own worth or value.

Self-discrepancy Theory

A psychological theory that explains how differences between individuals' actual, ideal, and ought selves can impact their emotional states.

Actual Self

The concept referring to how individuals see themselves currently.

Ought Selves

The representation of the attributes that someone believes they should possess, often influenced by societal, familial, and personal expectations.