Which of the Following Brings Only an Increase in the Quantity

question 217

Multiple Choice

Which of the following brings only an increase in the quantity demanded of a good?

• A) a decrease in income, assuming the good is an inferior good
• B) a rise in the price of a substitute good
• C) a fall in the price of the good itself
• D) an expectation that the good's price will rise in the future
• E) a decrease in income, assuming the good is a normal good

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Definitions:

Product Markets

Markets where final goods and services are bought and sold, contrasting with markets for inputs used in production, like labor and raw materials.

Services

Intangible products such as education, healthcare, and entertainment, provided and consumed at the same time, contributing to an economy's output.

Scarce Resources

Scarce resources are materials, goods, or services that are limited in availability relative to the desires or demands of human beings.

Goods and Services

The output produced by a society, including tangible products (goods) and intangible items (services) that fulfill human wants or needs.