A Change in Which Variable Will Change the Market Demand

question 57

Multiple Choice

A change in which variable will change the market demand for a product?

• A)the price of the product
• B)population
• C)technology
• D)the prices of substitutes in production

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Definitions:

Carrying Capacity

Carrying Capacity is the maximum population size of a species that an environment can sustain indefinitely, given the food, habitat, water, and other necessities available in the environment.

Human Population Size

The number of individuals living in a specific area or globally, influencing resources, environment, and economic development.

External Cost

A cost that a business or economic activity imposes on third parties who are not part of the transaction, such as pollution.

Pollution

The introduction of contaminants into the natural environment that cause adverse changes, affecting air, water, and soil quality.