If,in Response to an Increase in the Price of Chocolate,the

question 72

Multiple Choice

If,in response to an increase in the price of chocolate,the quantity demanded of chocolate decreases economists would describe this as

• A) a decrease in demand.
• B) a decrease in quantity demanded.
• C) a change in consumer income.
• D) a decrease in consumers' taste for chocolate.

---

Definitions:

Global Expansion

The process by which a company extends its business operations and market presence to multiple countries across the world.

Exporting

The process of selling goods or services produced in one country to buyers in other countries.

Unequal Economic Distribution

The uneven allocation of economic resources and wealth among individuals or groups within a society, often leading to disparities in living standards and opportunities.

Consumers

Individuals or groups who purchase goods and services for personal use, playing a key role in the economic system through their demand for products.