If the Price of Automobiles Were to Increase Substantially, the Demand

question 39

Multiple Choice

If the price of automobiles were to increase substantially, the demand curve for automobiles would most likely

• A)shift rightward.
• B)shift leftward.
• C)remain unchanged.
• D)become steeper.

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Definitions:

Alienated

Feeling isolated and separated from a group or activity to which one should belong or in which one should be involved, often discussed in the context of work and labor.

Produce

To create or bring forth goods and services through various processes of production and labor.

Alienation

The feeling of disconnect or estrangement individuals experience when they are unable to find meaningful connections with their work, others, or the society at large.

Capitalism

An economic framework where capital goods are owned by individuals or companies, with investment decisions made privately, and where the pricing, manufacturing, and distribution of items are primarily governed by the competitive forces within an unrestricted market.