객관식
After World War I, the US economy relied in large part on which of the following factors?
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3. Supply and Demand
The Basics of Demand
객관식
What is the law of demand?
A
An increase in consumers' income always increases demand for every good, regardless of price.
B
Consumers demand the same quantity of a good regardless of its price if their preferences are fixed.
C
Ceteris paribus, as the price of a good rises, the quantity demanded of that good falls.
D
Ceteris paribus, as the price of a good rises, the quantity demanded of that good rises.
검증된 단계별 안내1
Step 1: Understand that the law of demand describes the relationship between the price of a good and the quantity demanded by consumers, holding all other factors constant (ceteris paribus).
Step 2: Recognize that 'ceteris paribus' means 'all else equal,' so the law isolates the effect of price changes on quantity demanded without interference from other variables like income or preferences.
Step 3: Recall that the law of demand states that when the price of a good rises, the quantity demanded of that good typically falls, and conversely, when the price falls, the quantity demanded rises.
Step 4: Note that this inverse relationship between price and quantity demanded is fundamental to demand theory and is graphically represented by a downward-sloping demand curve.
Step 5: Differentiate this from incorrect statements, such as demand always increasing with income regardless of price, or quantity demanded remaining constant regardless of price, which do not align with the law of demand.
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