Other Things Being Equal, an Increase in the Prices of Portable

question 78

Multiple Choice

Other things being equal, an increase in the prices of portable power banks leads to a decrease in the amount portable power banks that people purchase. This is known as

• A) the law of demand.
• B) the law of supply.
• C) ceteris paribus.
• D) equilibrium.

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Definitions:

Foreign Goods

Products or services produced in one country and sold in another.

Capital Account

An account of a country’s transfer of capital to or from other countries.

Public Land

Land owned by the government for public use or preservation.

Manufacturing Units

Facilities or factories where raw materials are transformed into finished products through the use of machinery, labor, and production processes.