The Statement "Other Things Being Equal" in the Law of Demand

question 57

Multiple Choice

The statement "other things being equal" in the law of demand means all of the following remain constant EXCEPT

• A) consumer income.
• B) the price of the good concerned in the law of demand.
• C) the prices of substitutes.
• D) tastes and preferences.

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Definitions:

Metalloids

Elements with properties in between metals and non-metals, such as silicon and germanium, often used in semiconductors.

Antimony

A chemical element with the symbol Sb and atomic number 51, known for its brittle texture and silvery luster, used in alloys, flame retardants, and electronics.

Metals

Elements that are good conductors of electricity and heat, have a shiny appearance, and are malleable and ductile.