Which of the Following Might Cause the Demand Curve for an Inferior

question 125

Multiple Choice

Which of the following might cause the demand curve for an inferior good to shift to the left?

• A)a decrease in income
• B)an increase in the price of a substitute
• C)an increase in the price of a complement
• D)None of the above is correct.

Recognize the factors that lead to the classification of contracts as void, voidable, unenforceable, or illegal.

Distinguish between different types of contracts based on their legality and enforceability.

Identify the role of intention in forming a legally binding contract.

Understand the implications of domestic and commercial agreements on the presumption of legal intent.

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Definitions:

Credit Sales

Transactions in which goods or services are provided to a customer with the agreement that payment will be made at a later date.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered but not yet paid for.

Credit Sales

Sales of goods or services where the payment is delayed as per agreed terms, instead of requiring immediate payment.

Cash Receipts

Cash receipts are the total amount of money, including cash and checks, received by a business during a specific period from transactions.