If the Price of a Good Is Expected to Rise

question 30

Multiple Choice

If the price of a good is expected to rise in the future its

• A)demand curve will shift to the right.
• B)supply curve will shift to the left.
• C)demand curve will shift to the left.
• D)a and b

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Definitions:

Impossibility

Impossibility describes a situation where an event or action cannot occur or be performed.

Convey Real Estate

The act of transferring title, ownership, and rights of real estate property from one party to another through a deed or legal document.

Nonperformance

The failure to act or fulfill one’s duties or obligations as agreed or required.

Liquidated Damages

A predetermined amount of money that must be paid as compensation for failure to perform under a contract, often found in legal agreements.