In Economic Terms, to Say That There Has Been an Increase

question 289

Multiple Choice

In economic terms, to say that there has been an increase in demand for a product means that:

• A) the demand curve has shifted to the left.
• B) the product's price has fallen and as a result consumers are buying a larger quantity of the product.
• C) the product has become scarce for some reason.
• D) consumers are now willing to purchase more of the product at each possible price.