Assume the Demand for Product Y Increases and the Subsequent

question 87

Multiple Choice

Assume the demand for product Y increases and the subsequent market system responses result in the production of more Y.This illustrates:

• A)that the concept of derived demand is inapplicable.
• B)that consumer sovereignty is inoperative in this economy.
• C)the scarcity function of prices.
• D)the directing or guiding function of prices.

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Definitions:

Mechanoreceptors

Sensory receptors that respond to mechanical pressures or distortions, such as touch, pressure, vibration, and sound.

Olfactory Epithelium

A specialized epithelial tissue inside the nasal cavity involved in the sense of smell, containing olfactory receptor cells.

Taste Buds

Sensory organs found on the tongue that are primarily involved in detecting tastes.

Filiform Papillae

Thin, thread-like projections on the tongue's surface involved in the sensation of touch but not in taste.