Generally, price and demand is _______ related which means that the increase in the price would lead to the decrease in the demand for that product and vice versa.
A: inversely
B: adversely
C: correspondingly
D: proportionally
A: inversely
B: adversely
C: correspondingly
D: proportionally
举一反三
- Generally, price and demand is ____ related which means that the increase in the price would lead to the decrease in the demand for that product and vice versa.
- If a product is a normal good: A: Demand is inversely related to income B: Demand is inversely related to price C: Demand is directly related to price D: Demand is inversely related to the price of substitutes
- Which of the following can be predicted to increase the demand for labor? a. An increase in the price of a gross complement to labor b. A decrease in the price of a gross substitute for labor c. A decrease in the number of firms d. An increase in product demand A: An increase in the price of a gross complement to labor B: A decrease in the price of a gross substitute for labor C: A decrease in the number of firms D: An increase in product demand
- Which of the following would increase the supply of corn? A: a decrease in the price of wheat B: an increase in the price of pesticides C: a severe drought in the corn belt D: a decrease in the demand for corn E: a fall in the price of corn
- Which of the following always raises the equilibrium price? A: an increase in both demand and supply B: a decrease in both demand and supply C: an increase in demand combined with a decrease in supply D: a decrease in demand combined with an increase in supply