Figure 3-1 -If the Price of Music Downloads Was to Decrease, Then

question 228

Multiple Choice

Figure 3-1
-If the price of music downloads was to decrease, then

• A) the demand for MP3 players would decrease.
• B) the demand for MP3 players would increase.
• C) the supply of MP3 players would increase.
• D) the quantity demanded of MP3 players would decrease.

---

Definitions:

Price

The price in terms of money anticipated, needed, or given for purchasing something.

Supply

Supply is the total amount of a good or service available to consumers, often influenced by price, production costs, and market demand.

Quantity

The amount or number of a material or immaterial good considered as a unit or in total.

Technological Advance

Improvements in technology that increase productivity and efficiency, often leading to economic growth and new product development.