John Argues That When the Price of a Good Decreases

question 106

Multiple Choice

John argues that when the price of a good decreases, people will purchase less of the good. This statement is

• A) consistent with the law of demand.
• B) inconsistent with the law of demand.
• C) referring to money prices.
• D) consistent with the law of supply.

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Definitions:

Independent Contractor

An individual who provides goods or services to another entity under terms specified in a contract or within a verbal agreement, not considered an employee.

Autonomy

The right or condition of self-government, or the ability of an individual or organization to make their own decisions and control their own affairs.

Personal Commitment

An individual's sincere promise or dedication toward achieving a particular goal or fulfilling an obligation.

Eligible

Meeting the required conditions or criteria set for a specific situation, program, or opportunity.