The Law of Demand Can Be Stated as All Else

question 108

Multiple Choice

The law of demand can be stated as all else equal:

• A) quantity demanded rises as price falls.
• B) quantity demanded rises as price rises.
• C) quantity demanded rises as income rises.
• D) demand rises as price falls.

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Definitions:

Commercial Law

A branch of law that deals with issues of private law relating to commerce, businesses, and trade, including contracts, sales, and corporate governance.

Business Dealings

Interactions and transactions between companies or individuals in the commercial sector.

Criminal Law

A branch of law dealing with crimes and their punishment.

Assault

An act that intentionally puts another person in reasonable apprehension of an imminent harmful or offensive contact.