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Question 16 (Multiple Choice Worth 4 points)

A clothing company is considering whether a new technology will speed up their ability to fulfill customer orders. Which economic question are they focusing on?

A. What to produce?
B. How to produce?
C. Why to produce?
D. For whom to produce?



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Question 17 (Multiple Choice Worth 4 points)

As the price increases, the quantity demanded increases.

Is this statement true or false?

A. True
B. False

Sagot :

GinnyAnsweridn

Final answer:

The law of demand states that as price increases, quantity demanded decreases.


Explanation:

Price and quantity demanded have an inverse relationship in economics. When the price of a good or service increases, the quantity demanded usually decreases, not increases. This principle is known as the law of demand.


Learn more about Law of Demand here:

https://brainly.com/question/32463907


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