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There Is an Island in the Middle of a Large

question 14

Multiple Choice

There is an island in the middle of a large river that houses a large population of ants.Damming of the river causes the island to flood and only the highest points of the island are now above water.The ants cannot swim,so are now in multiple isolated populations.Which of the following best describes this event?


Definitions:

Demand

Demand in economics is defined as consumers' willingness and ability to purchase goods or services at a given price over a specific period of time.

Normal Goods

Goods for which demand increases as consumer income rises, and decreases when consumer income falls.

Inferior Goods

Goods for which demand decreases as the income of consumers increases, opposite to normal goods.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.

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