A Demand Curve Shows How Quantity Demanded Changes as the Price

question 48

Multiple Choice

A demand curve shows how quantity demanded changes as the price changes.It implies that

• A)only a change in price can shift a demand curve
• B)everything else that affects demand is assumed to be constant
• C)quantity demanded is unrelated to price
• D)economists are concerned only with money
• E)it is impossible to show how anything but price affects demand

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Definitions:

Subjectively Clear

A term referring to information or statements that are clearly understood from a personal or individual perspective, often based on personal judgment.

Power of Acceptance

In contract law, the authority to accept an offer and create a binding legal agreement by expressing agreement to its terms.

Undue Excitement

Excessive enthusiasm or agitation that surpasses usual levels or expectations.

Effective Offer

A proposal made by one party to another intending to create a legal obligation upon acceptance.