If Price Is on the Vertical Axis and Quantity Demanded

question 148

Multiple Choice

If price is on the vertical axis and quantity demanded is on the horizontal axis,why is a demand curve downward sloping (left to right) ?

• A) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and supply,ceteris paribus.
• B) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and quantity supplied,ceteris paribus.
• C) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and demand,ceteris paribus.
• D) Because a demand curve is the graphical representation of the law of demand,which specifies a direct relationship between price and demand,ceteris paribus.
• E) Because a demand curve is the graphical representation of the law of demand,which specifies an inverse relationship between price and quantity demanded,ceteris paribus.

Understand the concept of trust as a psychological state in organizational behavior.

Recognize work/life balance initiatives and their effectiveness in minimizing work-related stress.

Identify adaptive responses to challenging or threatening situations and distinguish between types of stress.

Understand the effects of childcare support and flexible work hours on work-related stress.

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Definitions:

Optimal Consumption Bundle

The combination of goods and services that maximizes a consumer's utility given their budget constraints.

Marginal Utility

The further benefit or pleasure derived by consuming an additional unit of a given good or service.

Weekly Income

The total amount of money earned or received by an individual or household over the course of a week.

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget.