(Figure: Demand Shift) Refer to the Figure

question 58

Multiple Choice

(Figure: Demand Shift) Refer to the figure. Which of the following factors would cause the change in the figure? I. a decrease in the price of a complement good II. a decrease in the price of the product III. a decrease in the price of a substitute good IV. an increase in taxes

• A) I only
• B) II only
• C) I, II, and III only
• D) I and IV only

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Definitions:

Burial Services

Professional services offered by funeral homes and cemeteries that include preparing the deceased for burial and conducting the burial ceremony.

Convenience Products

Items that are widely available and easy to purchase, typically requiring minimal effort by the consumer to obtain them.

Business Products

Business products are goods or services sold by one business to another for resale, use in production, or general business operations.

Specialty Products

Products or services that are unique, high-value, and sought after by consumers willing to make a special effort to obtain them.