If We Observe an Increase in the Equilibrium Quantity of Good

question 33

Multiple Choice

If we observe an increase in the equilibrium quantity of good A,we know that

• A)either the demand for A has increased or the supply of A has decreased or both.
• B)either the demand for A has increased or the supply of A has increased or both.
• C)either the demand for A has decreased or the supply of A has increased or both.
• D)either the demand for A has decreased or the supply of A has decreased or both.
• E)none of the above.

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Definitions:

Lifestyle

The interests, opinions, behaviours, and behavioural orientations of an individual, group, or culture.

Geodemographics

Geodemographics is a method of market segmentation that combines geography with demographic information to classify populations for targeted marketing and research purposes.

Tapestry Segment

Classification of neighborhoods based on demographic and socioeconomic characteristics to understand consumer behavior and lifestyle patterns.

Geodemographic Segmentation

The process of classifying populations based on geographical and demographic factors for marketing and research purposes.