The Law of Supply States That, Other Things Equal, When

question 104

Multiple Choice

The law of supply states that, other things equal, when the price of a good

• A)falls, the supply of the good rises.
• B)rises, the quantity supplied of the good rises.
• C)rises, the supply of the good falls.
• D)falls, the quantity supplied of the good rises.

---

Definitions:

Genetic Predispositions

Inclinations or susceptibilities to certain traits, behaviors, or diseases, inherited from one's parents through genes.

Instinct Theory

A theory proposing that certain behaviors are innate and due to evolutionary programming.

Behavior

The behavior or responses of a person or system when influenced by external or internal factors.

Incentive

A factor, often a reward or a form of motivation, that induces or influences a person to act or perform in a certain way.