The law of demand concludes that a rise in the price of a golf ball ________ the quantity demanded and ________.
A) increases; shifts the demand curve for golf balls rightward
B) decreases; shifts the demand curve for golf balls leftward
C) decreases; creates a movement up along the demand curve for golf balls
D) increases; creates a movement down along the demand curve for golf balls
Question 2
When a good suddenly becomes more scarce in a free market, caused by a significant increase in consumer demand, then
A) it is a clear sign that households have become more greedy.
B) the price will tend to rise rapidly in light of the greater scarcity.
C) suppliers will gain in the exchange and buyers will lose.
D) the law of demand will be contradicted because people will be buying more, not less, at a higher price.
E) all of the above are true.
Because the leg muscles of children with muscular dystrophy are weak, they must perform the Gowers’
Will the sun rise tomorrow? Are you sure? “Cause and effect” vs. sense experience.
Classic Supply - Demand Curve
Marginal Supply - Demand Curve
The growing demand for electrical power, carbon sequestration and storage must be a priority
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994