Any Event That Causes Either the Demand Curve or the Supply

question 45

True/False

Any event that causes either the demand curve or the supply curve to shift will also change the equilibrium price and quantity.

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Definitions:

Peer Group Influence

The impact that a group of individuals of similar age, background, or social status can have on an individual's behavior, attitudes, and values.

Coercive Power

Coercive power is the capability to force someone to do something against their will, often through threats or punishment.

Sanctions

Measures taken by countries or international bodies to enforce international laws or norms, often through economic restrictions or penalties.

Punishments

Punishments entail the imposition of a penalty or negative consequence on an individual or group in response to undesirable behavior, aiming to deter such actions in the future.