If the Price of Ice Cream Increases and the Quantity

question 128

Multiple Choice

If the price of ice cream increases and the quantity demanded decreases, economists would describe this as:

• A)​a change in demand.
• B)​a change in quantity demanded.
• C)​a change in consumer income.
• D)​a change in one of the variables that shift demand.

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Definitions:

Causally Related

Refers to entities or events that have a cause-and-effect correlation with one another.

Causality

The relation between causes and effects, often considered fundamental to the understanding and analysis of phenomena in various fields, including philosophy and science.

Conclusion

The final part of something, typically a process, argument, or story, or the judgment or decision reached by reasoning.

False Alternative

A logical fallacy that occurs when an argument unjustly limits the options to two when there are more possibilities.