Increase in Price of a Good Will Increase Consumers' Demand

question 8

Multiple Choice

Increase in price of a good will increase consumers' demand.This is a(n)

• A)positive statement.
• B)true statement.
• C)inverse statement.
• D)normative statement.

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Definitions:

Valence

In psychology and motivational theory, the attractiveness or desirability of a reward or outcome.

Outcome Satisfies

The result of an action or process meets the expectations or requirements set forth.

Expectancy Theory

A psychological theory that suggests an individual's motivation is influenced by the expected outcome and the value placed on that outcome.

Employee Motivation

The degree of enthusiasm, dedication, and innovation that employees of a business contribute to their roles.