If a Demand Curve Shifts Left,it Implies

question 85

Multiple Choice

If a demand curve shifts left,it implies

• A) as a group, consumers are willing and able to pay less for the product.
• B) as a group, consumers are willing and able to pay more for the product.
• C) government has regulated how many people can purchase the product.
• D) the profit motive of the firms is making the price too high.

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Definitions:

Personal Economics

The study of how individuals manage their resources, including money, time, and skills, to meet personal and family needs and goals.

Non-Work Factors

Elements not related to one's job or professional responsibilities, such as personal issues or external activities, that can influence one's performance and well-being.

Stress

A physical, mental, or emotional factor that causes bodily or mental tension, potentially resulting from adverse or demanding circumstances.

Moods

Generalized positive and negative feelings or states of mind.