Which of the Following Is Not Held Constant When Considering

question 111

Multiple Choice

Which of the following is not held constant when considering a shift in the demand for pizza?

• A) Consumer incomes.
• B) The price of pizza.
• C) The price of spaghetti (a substitute).
• D) Expectations of higher prices for pizzas.

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Definitions:

Specialization

The practice of focusing on and becoming expert in a particular subject or skill, in economics, it refers to individuals or firms concentrating on the production of limited kinds of goods or services.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service at a lower cost per unit than others.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity, leading to more efficient trade.

Radios

Devices used for the wireless transmission and reception of sound through electromagnetic waves.