According to the law of demand, other things being equal
A) when the price a good goes up, then people buy more of that good.
B) when the price a good goes down, then people buy more of that good.
C) when people's income goes down, then they buy less of a good.
D) when people's income goes up, then they buy less of a good.
Correct Answer:
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Q3: The concept of "demand" in economics refers
Q4: The price of a smartphone increased from
Q5: The law of demand states that
A) consumers
Q6: According to the law of demand, a
Q7: The money price of a good is
Q9: A fundamental principle in demand analysis is
Q10: Suppose that the price of cornflakes is
Q11: In economics, "demand" refers to
A) what people
Q12: Which of the following is an example
Q13: The law of demand is based on
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