What Would the Effect on the Demand for Product a Be

question 5

Multiple Choice

What would the effect on the demand for product A be, as a result of an increase in the price of a substitute product?

• A) An inward shift in the supply curve for A
• B) An inward shift of the demand curve for A
• C) An outward shift of the demand curve for A
• D) A fall in the quantity demanded of product A

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Definitions:

Radical Left

Political movement that advocates for drastic changes to the social, economic, or political order, often focusing on ideas of socialism, communism, or anarchism.

Fascism

An extreme right-wing ideology that promotes authoritarian nationalism with a focus on dictatorial leadership, the aggressive silencing of any opposition, and strict control over society and the economy.

National Consumers' League

An American organization founded in 1899, focused on promoting better working conditions, fair labor practices, and consumer rights.

Buying Power

The ability of individuals or entities to purchase goods and services, often influenced by income levels, inflation rates, and economic conditions.