Examlex
For what does the acronym CARB stand?
Demand Shifts Left
A demand shift left is when the demand curve for a good or service shifts to the left, indicating a decrease in demand at all price levels, often due to changes in consumer preferences, income, or substitutes.
Air Travel
The act of traveling in an aircraft, often commercially, where passengers are transported from one location to another.
Law of Demand
Economic principle stating that as the price of a good increases, the quantity demanded decreases, and vice versa, ceteris paribus.
Ticket Prices
The cost at which an individual can purchase a ticket to gain entry to an event, such as a concert, movie, or sports game.
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