Which of the Following Is One Way to Reduce Individual

question 10

Multiple Choice

Which of the following is one way to reduce individual consumption?

• A) increase income tax
• B) regulate birth rates
• C) provide incentives for conservation behaviours
• D) create a one-world economy

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Definitions:

Equilibrium Price

Equilibrium price is the price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a balanced market.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where demand equals supply.

Decrease in Price

A reduction in the cost at which goods or services are sold, often leading to increased demand.

Increase in Quantity

A rise in the amount of goods or services produced or supplied.