What Is Likely to Happen When Demand for a Commodity

question 112

Multiple Choice

What is likely to happen when demand for a commodity is high?

• A) Consumers will try to find substitutes for the commodity.
• B) The price of the commodity will rise.
• C) Criminal behaviour increases with regard to the commodity (e.g., stealing).
• D) The price of substitute commodities will increase.
• E) All of these statements are correct.

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Definitions:

Rank-Order Change

A change in the position or order within a ranking system, such as individuals moving up or down in a list based on a specific criterion.

Mean Level Change

Mean level change refers to the statistical concept of a change in the average value of a variable over time or through conditions within a given population.

Cross-Situational Consistency

The concept that an individual's behavior remains consistent across different situations and contexts.

Narrative Identity Development

The formation of an individual's identity through the construction of a personal narrative that integrates past experiences into a cohesive story aligning with the self.