A Decrease in the Demand for a Service Means That

question 16

Multiple Choice

A decrease in the demand for a service means that the

• A)demand curve shifts to the right.
• B)demand curve shifts to the left.
• C)supply curve shifts to the right.
• D)supply curve shifts to the left.

---

Definitions:

Marginal Benefit

Benefit from the consumption of one additional unit of a good.

Incentivized

Encouraged or motivated through the offering of incentives or rewards to perform a particular action or behavior.

Recession Of 2008

A severe global economic downturn triggered by the collapse of the housing market and financial institutions, leading to widespread job losses and economic instability.

Housing Bubble

A situation in the real estate market where house prices are driven to levels way beyond their true values due to excessive demand, speculation, or unsustainable economic factors, eventually leading to a sharp decline.