A Buyer Is Said to Have a Demand for a Good

question 21

Multiple Choice

A buyer is said to have a demand for a good only when

• A)The buyer wants to own the good.
• B)The buyer is both willing and able to purchase the good at alternative prices.
• C)The price of the good is low enough.
• D)An adequate supply of the good is available for purchase.

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Definitions:

Negative Correlation

Negative Correlation describes a relationship between two variables where as one variable increases, the other decreases, indicating an inverse association.

Deception

The act of misleading or tricking others through false statements or actions.

Informed Consent

A process by which a person gives permission or agrees to undergo a specific medical treatment or participate in research after being informed about the risks, benefits, and alternatives.

Functionalism

Early perspective in psychology associated with William James, in which the focus of study is how the mind allows people to adapt, live, work, and play.