A Demand Curve Will Shift to the Left If the _____

question 71

Multiple Choice

A demand curve will shift to the left if the _____.

• A)number of buyers increases
• B)future expectations become more optimistic
• C)buyers' incomes decrease
• D)prices of substitute goods increase

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Definitions:

Factors Of Production

The resources used in the production of goods and services, traditionally categorized as land, labor, and capital.

Income

The compensation gathered, often at regular intervals, from work activities or investment outcomes.

Wages, Rent, And Profit

The primary forms of income for labor, landowners, and capitalists respectively, derived from the factors of production: labor, land, and capital.

Natural Experiments

An empirical study in which the conditions of the study are determined by nature or by other factors outside the control of the investigators, but the process allows for the interpretation of causal relationships.