What Does the Law of Demand Imply

question 247

Multiple Choice

What does the law of demand imply?

• A) When price rises, quantity demanded falls.
• B) When price rises, quantity demanded rises also.
• C) When price falls, quantity supplied rises.
• D) When price falls, quantity supplied falls also.

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Definitions:

Ancestral Character

a trait or characteristic that was present in the common ancestor of a group of species and may be retained or altered in its descendants.

Hair

A thin strand of keratin that grows from the skin of mammals.

Shared Homologous Structures

Anatomical features that are similar in different species due to shared ancestry, indicating evolutionary relationships.

Taxa

Groups of one or more populations of organisms classified together, representing categories used in biological taxonomy such as species, genus, or family.