In Which Statement Is the Term "Demand" Used Correctly? (1)A

question 114

Multiple Choice

In which statement is the term "demand" used correctly? (1) A decrease in the price of airline tickets led to an increase in quantity demanded for airline tickets.(2) A decrease in the price of airline tickets led to an increase in the demand for airline tickets.

• A)neither statement
• B)the first statement only
• C)the second statement only
• D)both statements
• E)more information is needed

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Definitions:

Regression Analysis

A statistical method used for estimating the relationships among variables, often to predict the impact of one or more independent variables on a dependent variable.

Structural Equation Modelling Analysis

A statistical technique that is used to analyze structural relationships between measured variables and latent constructs.

Delphi Technique

The Delphi Technique is a forecasting method involving iterative rounds of questionnaires sent to a panel of experts, the results of which are aggregated and shared with the panel until a consensus is reached.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group to identify and solve problems.