A Change in Which of the Following Variables Will Result

question 54

Multiple Choice

A change in which of the following variables will result in NO change in the demand for a given commodity?

• A)average household income
• B)the distribution of income
• C)population
• D)tastes in favour of the commodity
• E)the price of the commodity

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Definitions:

Financial Intermediary

An institution that acts as a middleman between investors and borrowers, facilitating the flow of funds in the financial market.

Real Estate Brokerage

A service involved in arranging the buying, selling or renting out of properties, utilizing agents or brokers to facilitate transactions between buyers and sellers.

Mortgages

Loans specifically used for purchasing real estate, where the property itself serves as collateral to secure the loan.

Liabilities and Net Worth

The total of all debts and obligations owed by an entity minus its total assets, portraying the entity's financial health and capital.