If,in Response to a Decrease in the Price of Coffee,the

question 173

Multiple Choice

If,in response to a decrease in the price of coffee,the quantity of coffee demanded increases,then economists would describe this as

• A)an increase in demand.
• B)an increase in quantity demanded.
• C)a change in consumer income.
• D)an increase in consumers' taste for coffee.

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Definitions:

Product Life Cycle

The series of stages a product goes through from introduction to growth, maturity, and decline.

Window of Opportunity

A limited period during which a particular condition or combination of conditions creates a favorable situation for action or decision.

Avocations

Activities or hobbies pursued outside one's main occupation, often for enjoyment or fulfillment.

Hobbies

Leisure activities pursued for pleasure and relaxation, not as a main occupation.