How Would a Decrease in Consumer Income Affect the Market

question 196

Multiple Choice

How would a decrease in consumer income affect the market for lawn mowers?

• A) Demand would decrease, leading to an increase in price and a reduction in quantity sold.
• B) Demand would decrease, leading to a reduction in price and a reduction in quantity sold.
• C) Demand would increase, leading to an increase in price and an increase in quantity sold.
• D) Demand would increase, leading to a reduction in price and an increase in quantity sold.

---

Definitions:

Higher-Level Needs

Intrinsic desires or aspirations that go beyond basic physiological or safety requirements, often related to self-actualization, esteem, and social belonging.

Motivating Workers

The process of inspiring employees to achieve high performance and exceed their work-related goals.

Employee Affinity Group

Groups within an organization formed around shared interests, characteristics, or experiences, aimed at fostering a diverse and inclusive workplace.

Group Characteristic

Attributes or qualities that define a group and differentiate it from other groups, including its structure, goals, norms, and roles within the group.