Tom Was Out Shopping for a Sweater and Learned That

question 28

Multiple Choice

Tom was out shopping for a sweater and learned that they will all go on sale tomorrow.We would expect Tom's demand for sweaters today to:

• A) increase.
• B) shift to the left.
• C) move down along his demand curve.
• D) shift to the right.

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Definitions:

Technology

The use of scientific understanding to achieve practical goals, particularly within the industrial sector.

World Price

The global market price of a product or service, determined by worldwide demand and supply.

Import

The process of bringing goods or services into one country from another for the purpose of sale or use, often subject to trade policies and tariffs.

Export

Goods or services produced in one country and sold to buyers in another country.