A Demand Curve Shows the Relationship Between Price and Quantity

question 164

Multiple Choice

A demand curve shows the relationship between price and quantity demanded, "other things remaining constant." The other things that remain constant include all of the following except the:

• A)price of the product.
• B)price of complementary products.
• C)price of substitute products.
• D)number of consumers in the demographic group purchasing the product.
• E)preferences of consumers.

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Definitions:

Defensive Attribution

A psychological process by which individuals tend to ascribe greater blame to the victims of misfortune for their own victimization when they feel threatened by the likelihood of a similar event happening to them.

Observational Learning

A learning process through which behaviors, attitudes, or skills are acquired by watching and imitating the actions of others.

Classical Conditioning

A method of learning through which a response is cultivated by the combination of a stimulus found in the environment and one that naturally exists, leading to a behavioral response.

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining others' behaviors.