You Are Asked to Determine,other Things Equal,the Effects of a Given

question 280

Multiple Choice

You are asked to determine,other things equal,the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for,or supply (S) of,X, (2) the equilibrium price (P) of X and (3) the equilibrium quantity (Q) of X.
-Refer to the above.A decrease in the number of consumers of product X will:

• A) decrease S,decrease P,and decrease Q.
• B) increase D,increase P,and increase Q.
• C) decrease D,decrease P,and decrease Q.
• D) decrease D,decrease P,and increase Q.

---

Definitions:

Basic Requirement

Fundamental needs or conditions that must be met to achieve a goal or maintain a standard.

Drive-Reduction Theory

the idea that a physiological need creates an aroused state (a drive) that motivates an organismto satisfy the need

Physiological State

The condition of normal function of a living organism’s body, including its physical and chemical processes.

Motivational Arousal

The process of being internally stimulated to perform an action or behavior due to personal drive or desire.