In 1975, a Pocket Calculator Cost More Than $50; in 1990

question 77

Multiple Choice

In 1975, a pocket calculator cost more than $50; in 1990, a calculator of the same quality cost less than $10. Which of the following explanations is most consistent with these facts?

• A) As the population grew, fewer expensive calculators were needed, causing prices to fall.
• B) Intense competition in the calculator industry caused the supply curve for calculators to shift to the left, depressing the price.
• C) An improvement in technology caused the supply of calculators to increase, depressing their price.
• D) An increase in the demand for calculators led to the price drop.

---

Definitions:

Teachers' Expectations

The beliefs or perceptions that educators have about the abilities or potential achievements of their students, which can significantly influence student performance and motivation.

Self-Fulfilling Prophecy

A belief or expectation that influences actions in a way that causes the belief to become true.

Economic Crisis

A situation characterized by a sharp decline in economic activity, marked by falling GDP, high unemployment, and low consumer spending, often leading to a recession or depression.

Primary Socialization

Is the process of acquiring the basic skills needed to function in society during childhood. Primary socialization usually takes place in a family.