When Demand Decreases

question 144

Multiple Choice

When demand decreases,

• A) price falls and quantity supplied decreases.
• B) supply decreases so that price remains the same.
• C) price rises and quantity supplied decreases.
• D) price rises with no change in supply.
• E) supply increases so that price remains the same.

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Definitions:

Privatize

The transfer of a business, industry, or service from public to private ownership and control.

Fad

A short-lived but enthusiastically embraced new cultural element.

Cultural Phenomenon

An aspect of culture that can be widely recognized and significantly influences society, including trends, habits, and patterns of behavior.

Formal Social Movements

Structured groups or organizations that aim to bring about social change through organized efforts and systematic strategies.