The quantity demanded of a good or service is the quantity buyers are willing and able to buy at a particular price during a particular period, all other things unchanged is price as a determinant of demand True O FalseAll other things unchanged, the law of demand holds that, for virtually all goods and services, a higher price leads to a reduction in quantity demanded and a lower price leads to an increase in quantity demanded is the Law of Demand O True FalseQuestion 17 (10 painni A variable that can change the quardity of a good or service demanded at each price is called a demand shifter, Match the Determinants and shifters of dernand with the appropriate definition Column A Column B consumer preferences a, A change In preferences that makes one good or seruygu more popular will shift the demand curve to the right, A the prices of related goods and services change that makes it less popular will shift the demand charvet to the left income by in general, if a reduction in the price of one good demographic characteristics Increases the demand for another, the tera goods are doted complements. It a reduction in the price al on buyer expectations good reduces the demand for another, the torp goods are called substitutes The number of buyers affects the total quantity of agood, of service that will be bought in general the greater the population, the greater the demand . The consumption of goods that can be easily stored, or whoon consumption can be postponed, h strongly affected by buyer expectations, A good for which demand increases wien income increases is called a normal good, A good for which demand decreases when income increases is called um Infedor good