If the Price of Automobiles Were to Decrease Substantially, the Demand

question 83

Multiple Choice

If the price of automobiles were to decrease substantially, the demand curve for pizza would most likely

• A)shift rightward.
• B)shift leftward.
• C)remain unchanged.
• D)remain unchanged while quantity demanded would change.

---

Definitions:

Credit Sales

Sales made by a business where payment is deferred to a future date, typically involving an agreement or terms of credit.

Budgeted Cost of Raw Material

An estimate of the total cost of all raw materials required for production for a certain period, used in budget preparation.

Required for Production

Required for production denotes the essential resources, materials, labor, and capacity needed to manufacture a product or carry out a production process.

Budgeted Selling Price

The projected price at which a company expects to sell its goods or services in the market during a specific period.