Demand ________ If the Price of a ________ Product or Service

question 47

Multiple Choice

Demand ________ if the price of a ________ product or service ________.

• A) decreases; substitute; rises
• B) increases; substitute; falls
• C) increases; substitute; rises
• D) decreases; complement; falls
• E) increases; complement; rises

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Definitions:

Advertising

The action of calling public attention to products, services, needs, etc., especially by paid announcements in print, broadcast, or electronic media.

Sales

The activity or business of selling products or services.

Equation

A mathematical statement that asserts the equality of two expressions, typically involving variables and constants.

Coefficient Of Correlation

A statistical metric that assesses the intensity of the association between the relative changes of two variables.