What Is Meant by the Term Change in the Quantity

question 62

Multiple Choice

What is meant by the term change in the quantity demanded?

• A)The change in the quantity which results from a price change and implies a movement along the demand curve.
• B)The change in the quantity which results from a change in any factor other than the price and implies a movement along the demand curve.
• C)The change in the quantity which results from a price change and implies a shift in the demand curve.
• D)The change in the quantity which results from a change in any factor other than the price and implies a shift in the demand curve.

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, offering limited liability to its shareholders, and is capable of owning property, being liable, and suing or being sued.

General Partnership

A business arrangement where two or more individuals share ownership and the responsibility for managing the business and its debts.

Sole Proprietorship

A business structure where the business is owned and run by one individual, where there is no legal distinction between the owner and the business entity.

Partnership

A business formed by two or more co-owners.