Suppose Demand Decreases and Supply Decreases

question 132

Multiple Choice

Suppose demand decreases and supply decreases.Which of the following will happen?

• A)equilibrium price will increase
• B)equilibrium price will decrease
• C)equilibrium quantity will increase
• D)equilibrium quantity will decrease
• E)neither the equilibrium price nor the quantity will change

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Definitions:

Microfinance

A type of banking service provided to unemployed or low-income individuals or groups who have no other access to financial services.

Financial Services

Economic services provided by the finance industry, including banks, insurance companies, investment funds, and more.

Traditional Banking

Banking services provided by physical bank branches, including deposit taking, lending, and other financial services.

Definitive Stakeholder

A key individual or group with a significant interest in or influence over the outcome of a project or business endeavor.