Examlex
Who is likely to have the least need for life insurance?
Price Increases
A rise in the cost of goods or services, which can affect demand, supply, and the overall economy.
Demand Shifts Left
A demand shift left is when the demand curve for a good or service shifts to the left, indicating a decrease in demand at all price levels, often due to changes in consumer preferences, income, or substitutes.
Air Travel
The act of traveling in an aircraft, often commercially, where passengers are transported from one location to another.
Law of Demand
Economic principle stating that as the price of a good increases, the quantity demanded decreases, and vice versa, ceteris paribus.
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