A Decrease in Quantity Demanded of a Good Is Caused

question 151

Multiple Choice

A decrease in quantity demanded of a good is caused by

• A)a decrease in income.
• B)a decrease in the price of a substitute.
• C)an increase in the price of the good.
• D)a change of tastes.

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Definitions:

Labor Union

An organized association of workers formed to protect and further their rights and interests, including wages, benefits, and working conditions.

Private College

An educational institution of higher learning that is not supported by public funds and is operated by a private individual or organization.

Hiring Standards

The criteria and qualifications required for a candidate to be eligible for a particular job position.

Legal Challenge

A dispute brought before a court, questioning the legality or constitutionality of a law, regulation, decision, or action.