Which of the Following Would Most Likely Cause a Decrease

question 275

Multiple Choice

Which of the following would most likely cause a decrease in current consumer demand for normal good X?

• A)a decline in the price of product X
• B)an increase in consumer income
• C)a decrease in the prices of goods which are close substitutes for X
• D)an increase in the price which consumers expect will prevail for product X in the future

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Definitions:

Crisis Experience

An emotionally significant event or radical change of status in a person's life, which can lead to a period of psychological upheaval.

Outcome of Crisis

The resolution or final consequences resulting from a period of significant challenge, change, or instability.

Initiative

The ability to assess and initiate things independently, often taking charge in situations or starting something new without being prompted.

Locus of Control

A psychological concept that refers to individuals' beliefs about the extent to which the outcomes of their actions are under their own control (internal locus) or beyond their control (external locus).