A Decrease in the Demand for Bananas with No Concurrent

question 33

Multiple Choice

A decrease in the demand for bananas with no concurrent change in the supply of bananas will result in a ________ equilibrium price and a(n) ________ equilibrium quantity.

• A)higher; lower
• B)lower; lower
• C)higher; unchanged
• D)higher; higher

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Definitions:

Shelter

A structure that provides protection from the environment, including homes, buildings, and temporary accommodations.

Physiological Need

A basic bodily requirement that people need to survive, such as food, water, and shelter.

Maslow Hierarchy

A theory of human motivation depicted as a pyramid, with basic needs at the base ascending to self-actualization needs at the top.

Level Of Needs

The ranked priorities of needs that individuals strive to fulfill, often depicted in a hierarchical order, such as Maslow's hierarchy of needs.