Figure 4-13 -Refer to Figure 4-13.If the Supply Curves That Are Drawn

question 315

Multiple Choice

Figure 4-13

-Refer to Figure 4-13.If the supply curves that are drawn represent supply curves for single-family residential houses,then the movement from S to S' could be caused by a(n)

• A) increase in the price of apartments which are a substitute for single-family houses for many people looking for a place to live.
• B) newly-formed expectation by house-builders that prices of houses will increase significantly in the next six months.
• C) decrease in the price of lumber.
• D) All of the above are correct.

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Definitions:

Intangible Concepts

Ideas or principles that cannot be physically touched or measured, but can be understood and have significance, such as freedom, justice, or love.

Physical Objects

Tangible items that can be seen, touched, and usually occupy space, in contrast to intangible concepts or services.

Societal Marketing Concept

A marketing approach that considers not only the demands of consumers but also the long-term welfare of society.