A Market Demand Schedule for a Product Indicates That

question 211

Multiple Choice

A market demand schedule for a product indicates that

• A) as the product's price falls, consumers buy less of the good.
• B) there is a positive relationship between price and quantity demanded.
• C) as a product's price rises, consumers buy more of the good.
• D) there is a negative relationship between price and quantity demanded.

---

Definitions:

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed.

Long-Term Liabilities

Financial obligations of a business that are due for repayment in more than one year, such as bonds payable or long-term loans.

Gross Pay

The total amount of money an employee earns before any deductions are made.

Deductions

Amounts that are subtracted from gross income or revenue, leading to a lower taxable income or tax liability.