The Tendency for Consumers to Purchase More of a Good

question 129

Multiple Choice

The tendency for consumers to purchase more of a good or service as its price falls is captured by:

• A)the law of supply.
• B)the law of increasing cost.
• C)the Low-Hanging Fruit Principle.
• D)the law of demand.

---

Definitions:

Low Individualism

A cultural value orientation that emphasizes collective over individual action and decisions, prioritizing group goals over personal ones.

Individual Rights

The fundamental freedoms and protections that belong to each person, often highlighting issues of fairness and respect in social and organizational contexts.

Ethical Principle

Fundamental guidelines that dictate the behavior and decision-making process of individuals or organizations, ensuring actions are morally right.

Unjust Favoritism

A situation where preferential treatment is given without fair standards or merit, often leading to dissatisfaction and conflict within groups.