A Decrease in the Price of Gasoline Shifts the Demand

question 118

Multiple Choice

A decrease in the price of gasoline shifts the demand for auto batteries to the

• A)left, because gasoline and auto batteries are substitutes.
• B)left, because gasoline and auto batteries are normally used together.
• C)right, because gasoline and auto batteries are substitutes.
• D)right, because gasoline and auto batteries are normally used together.

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Definitions:

Globalised World

A world where nations, economies, and cultures have become interconnected and interdependent due to globalization.

Labour Markets

The supply and demand dynamics of workers, where employers seek to hire labor and individuals offer their skills and abilities in exchange for compensation.

Business Dealings

The formal relations and transactions conducted between businesses or between businesses and individuals.

Computer Languages

Formal languages comprising a set of instructions that can be used to produce various kinds of output, including software programs, used in computing.