Exhibit 4-4 -Refer to Exhibit 4-4.A Shift from Demand Curve D to Curve

question 21

Multiple Choice

Exhibit 4-4
-Refer to Exhibit 4-4.A shift from demand curve D to D' illustrates a(n)

• A)decrease in demand
• B)decrease in quantity demanded
• C)increase in quantity demanded
• D)increase in demand
• E)increase in supply

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Definitions:

Intangibility

A characteristic of services that means they cannot be seen, tasted, felt, heard, or smelled before they are bought.

Subjective Criteria

Decision-making factors based on personal preferences, opinions, or judgments rather than on objective data.

Purchase Decision

The final stage in the buying process where a consumer chooses to buy a specific product or service after considering various alternatives.

Gross Domestic Product

The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period, serving as a comprehensive indicator of a country's economic performance.