An Increase in the Demand for a Product Means That

question 45

Multiple Choice

An increase in the demand for a product means that the:

• A) demand curve shifts to the left.
• B) demand curve shifts to the right.
• C) supply curve shifts to the right.
• D) supply curve shifts to the left.
• E) quantity supplied has increased.

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Definitions:

Raw Materials

Basic materials and substances used in the initial stages of production.

Budgeted Sales

Budgeted Sales are the projected amounts of sales revenue that a company expects to achieve during a specific period based on marketing and sales plans.

Selling Price

The amount of money charged for a product or service, or the sum the consumer must pay.

Credit Sales

Sales made on credit, where the payment is received after the service or good is delivered.