What is market demand?
A) The substitution of one product for another as a result of a change in their relative prices.
B) The total demand for a product by all consumers.
C) An increase or decrease in prices based on the quantity demanded of a product.
D) The desire to purchase cheaper competing products rather than relatively more expensive products.
Correct Answer:
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Q2: Which of the following is explained by
Q3: What is supply?
A)The quantities which producers are
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Q9: What is meant by the term ceteris
Q10: All of the following,except one,is demand.Which is
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Q12: What is the term for the substitution
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