Which of the Following Would Most Likely Increase the Demand

question 329

Multiple Choice

Which of the following would most likely increase the demand for gasoline?

• A) the expectation by consumers that gasoline prices will be higher in the future
• B) the expectation by consumers that gasoline prices will be lower in the future
• C) a widespread shift in car ownership from SUVs to hybrid sedans
• D) a decrease in the price of public transportation

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Definitions:

Demand Curve

A graphical representation of the quantity of a good that consumers are willing and able to buy at different prices.

Price Change

A variation in the cost of a good or service over time.

Technology Improvement

The enhancement or development of new technologies or the improvement of existing technologies, which can lead to increased efficiency and productivity.

Complementary Good

A product or service that is typically used or consumed together with another good or service, increasing demand for one another.