Which of the Following Is Consistent with the Law of Demand

question 95

Multiple Choice

Which of the following is consistent with the law of demand?

• A) People substitute higher-priced goods for higher-quality goods.
• B) People substitute some higher-priced goods for other higher-priced goods.
• C) People substitute lower-priced goods for higher-priced goods.
• D) People substitute some lower-priced goods for other lower-priced goods.

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Definitions:

GDP

Gross Domestic Product; a measure of the economic production and growth of a country, representing the total value of all goods and services produced over a specific time period.

Regulatory Protein

Proteins that play crucial roles in controlling gene expression and mediating cellular activities.

G Protein

A class of proteins that act as molecular switches inside cells, involved in transmitting signals from various stimuli outside a cell to its interior.

Receptor Molecules

Proteins located on the cell surface or within cells that bind specific substances, triggering a biological response.