ECONOMICS
PRICE CEILINGS AND FLOORS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a rise in the demand for recreation
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a decrease in the demand for cars
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a shift in the demand for high quality food
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an increase in the demand for shelter
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Detailed explanation-1: -An increase in the population will lead to a rightward shift in the market demand curve. When the population increases, the overall demand for goods and services also increases in the economy. This results in the shift of the market demand curve to the rightward direction.
Detailed explanation-2: -As the world’s population grows, so do its demands for water, land, trees and fossil fuels-all of which come at a steep price for already endangered plants and animals.
Detailed explanation-3: -Rapid population growth makes it more difficult for low-income and lower-middle-income countries to afford the increase in public expenditures on a per capita basis that is needed to eradicate poverty, end hunger and malnutrition, and ensure universal access to health care, education and other essential services.
Detailed explanation-4: -Complete answer:-Population grows, more space is needed for human settlements, and this results in urbanization, so often land clearing involves deforestation, resulting in fewer trees keeping the soil together. The land is loose and quickly eroded by the erosive agents of wind and rain.