ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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changing demographics can cause demand shifts.
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demand does not always change when prices change.
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the law of ceteris paribus works.
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lack of substitutes can blunt demand shifts.
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Detailed explanation-1: -The number of buyers affects the total quantity of a good or service that will be bought; in general, the greater the population, the greater the demand.
Detailed explanation-2: -Demographic change can influence the underlying growth rate of the economy, structural productivity growth, living standards, savings rates, consumption, and investment; it can influence the long‐run unemployment rate and equilibrium interest rate, housing market trends, and the demand for financial assets.
Detailed explanation-3: -Demographic change describes the changes in population size and structure caused by changes in birth rates, death rates, and by migration. Demographic change in the Western developed countries of today is marked by low birth rates below population replacement and by rising life expectancy.
Detailed explanation-4: -Rising education levels. Women’s increasing participation in the workforce and growing willingness to remain in it longer, which may influence men because many couples prefer to retire together. Shifts in employer-sponsored retirement plans. More items •12-Nov-2018