The Market Demand Curve

question 246

Multiple Choice

The market demand curve

• A) cannot show how quantity demanded changes in response to a change in price.
• B) cannot show a change in demand for a good.
• C) is the horizontal sum of individual demand curves.
• D) is the vertical sum of individual demand curves.
• E) is upward sloping.

Compare and contrast transformational leadership with other leadership approaches.

Understand the conceptual criticisms of transformational leadership including its potential for abuse and being elitist and anti-democratic.

Appreciate the research evidence supporting transformational leadership’s effectiveness.

Understand how transformational leadership is applied in practice and its intuitive appeal.

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Definitions:

Normal Good

A good for which demand increases when consumer income rises, and decreases when consumer income falls.

Inferior Good

A type of good whose demand decreases when consumer income rises, contrary to normal goods, which see increased demand as incomes rise.

Inferior Good

A type of good whose demand decreases when the income of consumers increases.

Normal Good

An item whose demand escalates as the income of consumers increases, and contracts when their income decreases.