What does the Law of Demand state about the relationship between price and quantity demanded?

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Mathematics
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Vocational training
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Hard
amos kipngetich
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A direct relationship.
An inverse relationship.
No relationship.
A proportional relationship.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following factors causes a movement along the demand curve, rather than a shift of the entire curve?
Changes in consumer preferences.
Changes in the price of related goods.
Changes in the price of the good itself.
Changes in consumer income.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of resources used to produce a good increases, what will happen to the supply of that good?
Supply will increase, shifting the curve to the right.
Supply will decrease, shifting the curve to the left.
Quantity supplied will increase, moving along the curve.
Quantity supplied will decrease, moving along the curve.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What occurs when the quantity demanded is greater than the quantity supplied at a given price?
A surplus.
Equilibrium.
A shortage.
A price ceiling.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a new study reveals that consuming ice cream makes people smarter, how would this likely affect the equilibrium price and quantity of ice cream?
Price would decrease, and quantity would decrease.
Price would increase, and quantity would decrease.
Price would increase, and quantity would increase.
Price would decrease, and quantity would increase.
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