The Law of Demand Implies That

question 251

Multiple Choice

The law of demand implies that:

• A)consumers are not responsive to price changes.
• B)consumers will buy more at lower prices.
• C)sellers will offer more on the market at higher prices.
• D)sellers will offer less on the market at lower prices.

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Definitions:

Isomeric Form

Variants of a molecule that have the same molecular formula but differ in the arrangement of atoms within the molecule or in their spatial orientation.

Enzyme

Biological molecules that significantly speed up the rate of virtually all the chemical reactions within cells.

Molecule

The smallest unit of a chemical compound that can exist; composed of two or more atoms held together by covalent bonds.

Activation Energy

The minimum energy required to start a chemical reaction.