If all other factors remain equal, the higher the price of a good, the fewer people will demand that good means what?

Related MCQs

• Producers supply more at a higher price because selling more quantity at higher price increase revenue means what?
• If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:
• Demand for factors of production is:
• Quantity of a product people are willing to buy at a certain price is known as ______.
• The higher the ________ level of the employee, the lower the job satisfaction.
• Which among the following are the factors that determine the national income of a country?
• Management is said to be the combination of three factors, arts, science and the third is
• Which are the factors of production?
• Direction is a ________ function performed by all the managers at all levels of the organization.
• Demand for a commodity refers to: