If More Buyers Came into the Market for a Good

question 125

Multiple Choice

If more buyers came into the market for a good, we would expect to see the market demand curve

• A) shift inward and to the left.
• B) remain unchanged since none of the determinants of individual demand changed.
• C) shift outward and to the right.
• D) reflect a positive relationship between price and quantity demanded.

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Definitions:

Production Possibilities Frontier (PPF)

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources), assuming all inputs are fully employed.

Economic Growth

An increase in the production of goods and services in an economy over a period of time, typically measured as the percentage increase in real gross domestic product (GDP).

Production Possibilities Frontier (PPF)

A curve depicting all maximum output possibilities for two goods, given a set of inputs.

Technology Available

Refers to the tools, devices, systems, and solutions that are currently accessible and can be used to resolve problems, improve efficiency, or enhance quality of life.