As the Price of a Product or Service Rises

question 51

Multiple Choice

As the price of a product or service rises,

• A) quantity demanded increases.
• B) demand increases.
• C) quantity supplied increases.
• D) supply increases.
• E) both demand and supply increase.

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Definitions:

Accurate

The degree to which a measurement, conclusion, or representation closely matches the true or correct value or outcome.

Computer Competency

The proficiency in using computer systems and software efficiently for a wide range of tasks.

Information Technology

The use of computers, software, networks, and other electronic devices to process, store, and exchange data or information.

Utilize Computers

The act of employing computers to perform tasks or solve problems, optimizing productivity and efficiency.