Assuming That Bus Travel Is an Inferior Good, an Increase

question 39

Multiple Choice

Assuming that bus travel is an inferior good, an increase in consumer income, other things being equal, will cause a(n) :

• A) upward movement along the demand curve for bus travel.
• B) downward movement along the demand curve for bus travel.
• C) rightward shift in the demand curve for bus travel.
• D) leftward shift in the demand curve for bus travel.

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Definitions:

Centralized

The concentration of control or authority in a single organization or location, often in the context of decision-making processes.

Hierarchy Of Authority

An organizational structure where different levels of power and responsibility determine how decisions are made and tasks are assigned.

Centralization

The degree to which decision-making authority is concentrated at higher levels within an organization.

Environmental Factors

External elements, conditions, or influences that impact an individual's behaviors, decisions, and wellbeing.