What Is the Demand Pattern That Can Be Used to Describe

question 26

Multiple Choice

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

• A)Random
• B)Trend
• C)Cycle
• D)Seasonal pattern

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Definitions:

Scarcer Over Time

indicates that a resource or good is becoming less available or more difficult to obtain as time progresses.

Saving Rate

The proportion of income that is not spent, but instead saved by individuals, households or the nation as a whole.

Productivity

measures the efficiency of production in terms of the amount of output generated per unit of input, such as labor or capital.

Human Capital

The collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community.