Which of the Following Is True

question 212

Multiple Choice

Which of the following is true?

• A)​A fall in a good's price leads to a decrease in quantity demanded, illustrated by moving along a demand curve.
• B)​According to the law of demand, other things equal, when the price of a good or service falls, demand increases.
• C)​A change in demand for chocolate bars is caused by a change in the price of chocolate bars.
• D)​None of the above is true.

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Definitions:

Vicious Circle Of Poverty

A problem common in some developing countries in which their low per capita incomes are an obstacle to realizing the levels of savings and investment needed to achieve rates of growth of output that exceed their rates of population growth.

Low Saving

A condition characterized by individuals or populations saving a minimal portion of their income, potentially impacting investment and economic growth.

Low Investment

A scenario characterized by minimal input of capital or resources towards business growth, expansion, or development activities.

Low Productivity

A situation where there is an inefficient use of resources, resulting in less output per unit of input, often affecting economic growth and competitiveness.