If the Price of a Commodity Increases as the Result

question 193

Multiple Choice

If the price of a commodity increases as the result of increased demand, you would expect the:

• A) supply to increase.
• B) quantity supplied to increase.
• C) quantity supplied to decrease.
• D) supply curve to shift to the right.

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Definitions:

1863

A significant year during the American Civil War marked by the Emancipation Proclamation, which declared the freedom of slaves within the Confederacy.

Northern Victory

Northern Victory refers to the triumph of the Union (northern states) over the Confederacy (southern states) in the American Civil War, leading to the preservation of the United States and the end of slavery.

Civil War

A war between citizens of the same country or state, often to achieve political independence or change governmental policies.

Major Factors

Essential elements or determinants that play a significant role in influencing or deciding the outcome of a particular situation or in the analysis of a problem.