(Figure: Demand for Shoes) a Shift to the Right of the Demand

question 66

Multiple Choice

(Figure: Demand for Shoes) A shift to the right of the demand curve could be caused by a(n) :

• A) decrease in tastes or preferences.
• B) increase in income if the good is a normal good.
• C) increase in the price of a complement.
• D) decrease in the price of a substitute.

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Definitions:

Special Promotion

A marketing strategy that involves temporary deals or offerings designed to boost sales or consumer interest in a product or service.

National Supermarket Chain

A large retail chain that operates multiple supermarket locations across an entire country, offering a wide range of food and household products.

Competition-oriented Pricing

A pricing strategy where the prices are set based on competitors' prices rather than solely on production costs or consumer demand.

Private Brands

Products that are owned by a retailer or a supplier but are sold under a retailer's brand.