Young Drivers Often Buy Used Cars

question 3

True/False

Young drivers often buy used cars. An increase in the legal driving age to twenty-one shifts the demand curve for used cars leftward, whereas lowering the age to fifteen shifts the demand curve rightward.

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Definitions:

Extrinsic

Originating from or influenced by external factors outside of oneself, such as rewards or social pressures, rather than internal desires.

Instinct

Instinct refers to the innate, typically fixed patterns of behavior in animals and humans that are responded to specific stimuli, driven by evolutionary pressures.

Incentives

External rewards or punishments that motivate behavior or inspire action.

Stimuli

External or internal factors that elicit a physiological or psychological response in an organism.