A Decrease in Expected Future Supply of a Good Will

question 196

Multiple Choice

A decrease in expected future supply of a good will lead to:

• A) a change in the demand for the good, but not until the supply actually goes down.
• B) a change in the price of the good, but not until the supply actually goes down.
• C) a change in the demand for the good even before the supply actually decreases.
• D) no change in the demand for the good.

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Definitions:

Federal Law

Legislation passed by the national government of a country.

State Law

Legislation that is enacted and enforced by individual states within the United States.

Market Share

Market share represents the portion of an industry's sales that is controlled by a particular company, indicating its competitiveness.

Infringes

To violate, as in breaking the terms of a law or a right.