7
QuizMultiple Choice

The Law of Supply and Demand

Question 7 • SEPHS - SOC240 - Economics (Fall)

Which statement best compares the laws of supply and demand?

Answer
A
The two economic laws exist in theory. They have no relation to economics in the real world.
B
The two economic laws exist in theory. They work in practice, but real-world factors can have an effect.
C
The two economic laws work in practice. They apply to real-world economics eighty percent of the time.
D
The two economic laws work in practice. They prove to be true in the real world one hundred percent of the time.
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