In Case of a Normal Good,an Increase in Consumers' Incomes

question 60

Multiple Choice

In case of a normal good,an increase in consumers' incomes would shift the:

• A)demand curve inward.
• B)supply curve inward.
• C)supply curve outward.
• D)supply and demand curves inward.
• E)demand curve outward.

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Definitions:

Housing Market

An economic segment that deals with the buying, selling, and leasing of properties, including houses and apartments.

Exclusive Right

A privilege or entitlement granted to an individual or entity to be the sole provider or beneficiary of a specific service, product, or activity.

Real Estate Broker

A licensed individual or firm that acts as an intermediary between sellers and buyers of real estate, assisting in the negotiation and sale process.

Commission

A fee paid to an agent or employee for transacting a piece of business or performing a service, often calculated as a percentage of sales.