ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following could increase demand for a good?
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higher birthrate
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increased immigration
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higher prices in the future
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all of the above
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Explanation:
Detailed explanation-1: -The correct option is e. a decrease in the price of complementary goods. There are different demand determinants. Some examples of these determinants are consumers’ income, number of consumers, price of related goods, and consumer expectations.
Detailed explanation-2: -The correct answer is: C. A decrease in the price of a complementary good.
Detailed explanation-3: -The increase in demand causes excess demand to develop at the initial price. a. Excess demand will cause the price to rise, and as price rises producers are willing to sell more, thereby increasing output.
There is 1 question to complete.