The Concept of "Demand" in Economics Refers to

question 56

Multiple Choice

The concept of "demand" in economics refers to

• A) the different quantities of a good or service people will buy at different possible prices.
• B) the different types of goods and services that people of different income levels want to buy.
• C) how changes in the prices of all goods affect people's buying behavior.
• D) changes in people's consumption behavior over time.

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Definitions:

Extinct

A term describing a species, family, or larger group of organisms that no longer exists anywhere on Earth.

Conditioned Response

A response acquired through learning to a stimulus that was once neutral but has been frequently paired with a stimulus that elicits an automatic response.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a pause.

Stray Dog

A dog that lives on the streets and is not owned or cared for by a specific person.