Asked by Brandon Pimentel on Jul 17, 2024
Verified
Factors which quickly and directly affect market demand include all of the following except
A) prices of related goods.
B) the number of buyers.
C) income.
D) tastes and preferences.
E) the cost of resources.
Market Demand
The total quantity of a product or service that all consumers in a market are willing and able to buy at various prices, given a period of time.
Related Goods
Products or services that are either complements or substitutes to one another, affecting each other's demand and supply.
Cost of Resources
The total expense incurred to acquire resources needed for production, including raw materials, labor, and capital.
- Discern the influence of assorted aspects, like monetary income, related products' pricing, and shifts in preferences or demographic changes, on the demand curve's movement.
Verified Answer
Learning Objectives
- Discern the influence of assorted aspects, like monetary income, related products' pricing, and shifts in preferences or demographic changes, on the demand curve's movement.
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