According to the Law of Demand,when the Price of Shoes

question 74

Multiple Choice

According to the law of demand,when the price of shoes ______ you will consume ________ shoes.

• A)rises,more
• B)falls,more
• C)rises,the same amount
• D)falls,the same amount

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Definitions:

Society

A group of individuals living together in a more or less ordered community with shared laws, traditions, and values.

Karl Marx

A 19th-century philosopher, economist, and revolutionary, who developed the theory of Marxism, emphasizing the roles of class struggle, economic exploitation, and historical development in capitalism.

Alienated

The feeling of being estranged or disconnected from others, society, or oneself, often resulting in isolation and a loss of identity or meaning.

Adam Smith

A Scottish economist and philosopher, best known for his theories on free market economics and the ‘invisible hand’ concept.