When the Price of a Good or Service Changes

question 138

Multiple Choice

When the price of a good or service changes,

• A)the supply curve shifts in the opposite direction.
• B)the demand curve shifts in the opposite direction.
• C)the demand curve shifts in the same direction.
• D)there is a movement along a given demand curve.

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Definitions:

General Attitude

A broad, enduring evaluation of people, objects, advertisements, or issues.

Cognitive Dissonance

The psychological unease felt by someone harboring multiple conflicting beliefs, ideas, or values simultaneously.

Feeling of Arousal

A physiological and psychological state of being awake or reactive to stimuli, often associated with sexual desire.

Intense Cognitive Focus

The mental state of being deeply engrossed or concentrated on a specific task or subject matter.