ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The demand curve will shift to the right and the price of cauliflower will rise.
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The supply curve will shift to the right and the price of cauliflower will fall.
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The demand curve will shift to the left and the price of cauliflower will fall.
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The supply curve will shift to the right and the price of cauliflower will rise.
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Detailed explanation-1: -Consumers are told that the consumption of cauliflower will significantly reduce the risk of cancer. Which of these scenarios is likely to happen in the cauliflower market? The demand curve will shift to the left and the price of cauliflower will fall.
Detailed explanation-2: -What does the demand curve demonstrate? The demand curve demonstrates the quantity of a product consumers will buy at different prices.
Detailed explanation-3: -The demand curve shifts to the left if the determinant causes demand to drop. That means less of the good or service is demanded. That happens during a recession when buyers’ incomes drop. They will buy less of everything, even though the price is the same.
Detailed explanation-4: -In the graph, what happened to the equilibrium price when the supply curve moved from S1 to S2? The equilibrium price went up. the supply curve will shift to the right.
Detailed explanation-5: -For demand to exist, a consumer must want a good or service. The consumer has to be willing to buy the good or service. Finally, the consumer needs the resources to buy it.