An Increase in Consumer Desire for Strawberries Is Most Likely

question 33

Multiple Choice

An increase in consumer desire for strawberries is most likely to

• A) increase the number of strawberry pickers needed by farmers.
• B) reduce the supply of strawberries.
• C) reduce the number of people willing to pick strawberries.
• D) reduce the need for strawberry pickers.

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Definitions:

Prices of Related Goods

Refers to how the cost of one good or service can affect the demand for another, reflecting the substitution or complementary relationship between them.

Changes in Supply

These refer to shifts in the quantity of a good or service that producers are willing and able to sell at various prices, caused by factors other than the price of the good or service.

Inferior Goods

Goods for which demands decrease when people’s incomes rise.

Increase in Demand

A situation where there is a rise in consumer desire to purchase goods and services, often leading to higher prices and greater sales volumes.