A Demand Curve Usually Has a

question 121

Multiple Choice

A demand curve usually has a

• A)negative slope because price and quantity demanded are inversely related
• B)negative slope because as price rises, demand falls
• C)positive slope because price and quantity demanded are positively related
• D)positive slope because price and quantity demanded are inversely related
• E)slope of zero because there is no change along a demand curve when everything else is held constant

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Definitions:

Bid-rigging

A form of fraud where competitors collude to inflate prices in procurement bids, undermining fair competition.

Cartels

Associations of independent businesses or organizations that agree to regulate production, pricing, and marketing of goods to maximize profits.

Winning Bids

Offers in an auction that outmatch all others, securing the auctioned item or service for the bidder.

Bid-rigging

An illegal agreement between parties to fix the outcome of a bidding process to benefit themselves at the expense of others.