Asked by karleigh rivas on Apr 28, 2024
Verified
A recent medical study reports new benefits of cycling.Simultaneously,the price of the parts needed to make bikes falls.If the change in supply is greater than the change in demand,the price will _________ and the quantity will _________.
A) Rise,rise
B) Rise,fall
C) Fall,rise
D) Fall,fall
Medical Study
Research conducted to investigate health-related outcomes, treatments, or conditions in a controlled and systematic manner.
Cycling
The activity of riding bicycles, either as a sport, a method of transportation, or a leisure activity.
Supply and Demand
The fundamental economic model that describes how prices are determined in a market based on the available quantity of goods or services and the desire for them.
- Gain an understanding of the theory behind supply and demand and the way market prices are influenced by their fluctuations.
- Assess the impact of technological progress on supply levels.
Verified Answer
Learning Objectives
- Gain an understanding of the theory behind supply and demand and the way market prices are influenced by their fluctuations.
- Assess the impact of technological progress on supply levels.
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