BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The demand curve will shift to the left and the price of cauliflower will fall
|
|
|
a. The supply curve will shift to the right and the price of cauliflower will rise
|
|
|
a. The supply curve will shift to the right and the price of cauliflower will fall
|
|
|
a. The demand curve will shift to the right and the price of cauliflower will rise
|
Detailed explanation-1: -Consumers are told that the consumption of cauliflower will significantly reduce the risk of cancer.
Detailed explanation-2: -A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve.
Detailed explanation-3: -The Law of Demand states that there is an indirect relationship between the price of a good or service and the quantity of that good or service that consumers are willing and able to buy. In other words, as the price of an item increases, buyers are less willing and able to buy it and vice versa.
Detailed explanation-4: -Which of the following best describes demand? The amount good consumers are willing to purchase at a particular price over a period of time.