How Does the Increasing Use of MP3 Players Affect the Market

question 49

Multiple Choice

How does the increasing use of MP3 players affect the market for compact discs?

• A)The demand curve for compact discs shifts to the right.
• B)The supply curve for compact discs shifts to the left.
• C)The supply curve for compact discs shifts to the right.
• D)The demand curve for compact discs shifts to the left.

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Definitions:

Mineral Supplies

The total availability of extractable minerals and elements from the earth's crust that are valuable for economic and industrial processes.

Scarcity

A situation in which available resources are insufficient to satisfy the wants and needs of people or the ecosystem.

Raw Materials

Basic substances in their natural, modified, or semi-processed state, used as inputs for production processes.

Consumer Goods

Products manufactured and bought to satisfy personal or household needs and wants, such as clothing, food, and electronics.