Examlex
Which one of the following statements would be most likely to convince an employer of the worth of a sociology degree?
Supply Decreases
A reduction in the amount of a product or service that is available for sale, often resulting in higher prices if demand remains the same.
Demand Increases
A situation in which the desire and willingness to purchase a good or service rises, often due to factors like income growth or preference changes.
Substitute Good
A good that can replace another to satisfy similar needs or desires, often influenced by changes in prices and consumer preferences.
Downsloping Demand
A situation where the demand for a good decreases as the price increases, following the typical law of demand.
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