If Demand Increases and Supply Decreases, Quantity Will

question 148

Multiple Choice

If demand increases and supply decreases, quantity will

• A)always increase
• B)always decrease
• C)increase only if supply decreases more than demand increases
• D)increase only if supply decreases less than demand increases
• E)decrease only if supply decreases less than demand increases

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Definitions:

Promissory Notes

Written promises to pay a specified sum of money to a named party, under specified conditions.

Uniform Commercial Code

A complete collection of regulations that oversee every commercial activity within the United States.

Postdating Checks

Writing a check with a date in the future, which means the check cannot legally be cashed or deposited until that date.

Negotiable Instrument

A voucher guaranteeing that a specified sum of money will be paid, either when demanded or at a certain time, with the payer’s identity specified on the voucher.