Author Question: Which of the following is closest to the definition of demand? a. People's willingness to supply ... (Read 32 times)

Coya19@aol.com · **on:** Jun 30, 2018

Which of the following is closest to the definition of demand?
a. People's willingness to supply goods at specific prices.
b. People's willingness to buy goods and services at given prices.
c. People's expectations of lower prices of goods and services.
d. Producer's expectations of selling more goods.
e. The interaction of people's willingness to buy and sell goods.

Question 2

The law of demand shows that:
a. there is an inverse relationship between price and quantity demanded.
b. the demand curve is positively sloped.
c. when the price of a good increases, the quantity demanded increases.
d. the supply curve is vertical.
e. individual demand is the same as market demand.