The "Law of Demand" States That, Other Thing Remaining the Same

question 192

Multiple Choice

The "law of demand" states that, other thing remaining the same, the higher

• A) the price of a good, the lower is the demand for this good.
• B) consumers' incomes, the greater is the demand.
• C) the price of a good, the higher is the quantity demanded.
• D) the price of a good, the smaller is the quantity demanded.

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Definitions:

Dominance Hierarchy

A social organization in animal groups (including humans) where individuals are ranked according to their social power and access to resources.

Social Competence

The capacity to interact effectively with others, understanding social cues and responding appropriately in various social situations.

Status

The evaluation of a role or person by other relevant members of a group or society.

Social Comparison

The desire to evaluate one’s own behavior, abilities, expertise, and opinions by comparing them to those of others.