One Might Explain a Shift to the Right in the Demand

question 14

Multiple Choice

One might explain a shift to the right in the demand curve for normal product A by saying that:

• A)incomes have declined, and consumers now want to buy less of A at every price
• B)the price of A has increased and, as a result, consumers want to buy less of it
• C)preferences have changed in favour of A, so consumers now want to buy more at every price
• D)the price of A has declined and, as a result, consumers want to buy more of it
• E)product A is now more plentiful than before

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Definitions:

Need for Touch

An individual's preference for tactile input and physical contact in the process of evaluating and purchasing products.

Branding

The process of creating a unique name, design, and image for a product or service, making it distinguishable from others in the market.

Packaging

The process or materials used to protect, contain, identify, and provide information about a product.

Visual Elements

Components such as colors, shapes, layout, and imagery that contribute to the aesthetic appeal and effectiveness of a design or artwork.