Asked by
Fredrick Musyoki
on Nov 30, 2024Verified
An increase in price will increase
A) demand.
B) supply.
C) quantity demanded.
D) quantity supplied.
E) the rate of inflation.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price over a specified period of time.
Inflation Rate
The rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling.
- Recognize the variance between adjustments in the quantity supplied and shifts in supply.
Verified Answer
ZS
Learning Objectives
- Recognize the variance between adjustments in the quantity supplied and shifts in supply.