When an Economist Says That the Demand for a Product

question 173

Multiple Choice

When an economist says that the demand for a product has increased, this means that

• A) consumers are now willing to purchase more of this product at each possible price.
• B) the product has become particularly scarce for some reason.
• C) product price has fallen and, as a consequence, consumers are buying a larger quantity of the product.
• D) the demand curve has shifted to the left.

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Definitions:

Insane

A term historically used to describe severe mental disorder or irrational behavior, now considered outdated and stigmatizing.

Manic

Relating to or affected by mania, a mood state characterized by excessive energy, excitement, euphoria, and sometimes delusions.

Normal Depression

Refers to feelings of sadness or low mood that are common and not indicative of a clinical disorder.

Survival

The act or process of continuing to live or exist, typically in spite of an accident, ordeal, or difficult circumstances.