An Increase in the Quantity Demanded of Tea Occurs Whenever

question 54

Multiple Choice

An increase in the quantity demanded of tea occurs whenever:

• A)the population of tea drinkers grows.
• B)the price of coffee rises.
• C)tea drinkers receive an increase in their incomes.
• D)the price of the tea falls.

---

Definitions:

Final Goods

Products that are consumed by the end user and do not require further transformation or inclusion in the production of other goods.

Hamburgers

A popular food item consisting of a cooked patty of ground meat, usually beef, placed inside a sliced bun, often served with various condiments and toppings.

Microeconomic Analysis

The study of the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

Macroeconomics

The branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets.