Use the Following to Answer Question(s): the Determinants of Demand

question 138

Multiple Choice

Use the following to answer question(s) : The Determinants of Demand and Supply

-(Exhibit: The Determinants of Demand and Supply) The exhibit shows how supply and demand might shift in response to specific events.Suppose consumer incomes increase.Which panel best describes how this will affect the market for used furniture, an inferior good?

• A) Panel (a)
• B) Panel (b)
• C) Panel (c)
• D) Panel (d)

---

Definitions:

Business Enterprises

Organizations engaged in industrial, commercial, or professional activities, aiming to generate profits.

Government Transfers

These are inflows of resources from a government without directly related reciprocal transactions, often in the form of grants or subsidies.

Non-Exchange Revenue

revenue received by an entity through means other than the direct exchange of goods or services, such as grants and donations.

Transferor and Recipient

Parties involved in the transfer of assets, where the transferor is the giver, and the recipient is the receiver.