Suppose That There Is Only One Small Clothing Store in the Remote

question 57

Multiple Choice

Suppose that there is only one small clothing store in the remote village of Green Acres,and until recently all of the townspeople bought most of their shirts there.As more people in Green Acres become connected to the Internet,the price elasticity of demand for shirts at the Green Acres store will:

• A)increase because the Internet offers more substitutes.
• B)decrease because the Internet offers more substitutes.
• C)remain the same,but the quantity demanded will decrease as more people shop online.
• D)remain the same,but the quantity will decrease as more people shop online.

Understand the connection between ideology and poverty.

Comprehend the causes and explanations of poverty, including Marx's theory of social change.

Identify different social systems and their characteristics.

Distinguish between progressive and regressive taxes and their effects on different income groups.