A Change in the Supply of a Given Good Could

question 25

Multiple Choice

A change in the supply of a given good could be caused by

• A)a change in demand for the good.
• B)a change in consumer preferences.
• C)a change in technology that affects of production costs.
• D)introduction of new consumers into the market.
• E)none of the above.

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Definitions:

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A professional who sells insurance policies and advises clients on insurance matters.

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A body of commercial law that merchants developed over centuries, based on common practices and used to resolve disputes.

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A charter of liberties to which the English barons forced King John to give his assent in 1215; a document constituting a fundamental guarantee of rights and privileges.