An Increase in Demand Occurs When

question 40

Multiple Choice

An increase in demand occurs when

• A)quantity demanded is greater than quantity supplied.
• B)quantity supplied is greater that quantity demanded.
• C)the demand curve shifts upward and to the right.
• D)there is a leftward shift in the demand curve.

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Definitions:

Liability Account

An accounting record that captures the amounts a company owes to creditors.

Creditors

Creditors are individuals or entities to whom a company owes money for goods or services that have been provided.

Asset Account

An account on a company's balance sheet that represents a resource with economic value that an entity owns or controls.