Normally an Increase in the Supply of a Good Will

question 315

Multiple Choice

Normally an increase in the supply of a good will cause

• A) a shift of consumer preferences in favor of that good.
• B) consumers to use more of that good and less of others.
• C) a shift of consumer preferences away from that good.
• D) consumers to use less of that good and more of others.

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Definitions:

Key Properties

Fundamental or essential attributes that define or characterize an object, concept, or system.

Language

A system of communication that uses symbols, such as words, sounds, and gestures, organized according to certain rules to convey information and express ideas.

Functional Fixedness

A thought pattern that restricts a person to the traditional utilization of an object, blocking pathways to creativity and the resolution of problems.

Heating Vent

An opening designed to direct the flow of heated air into a room as part of a heating, ventilation, and air conditioning (HVAC) system.