Asked by Grace Kushner on Jun 05, 2024
Verified
The demand for _____ is most severely affected by a recession.
A) medicines
B) automobiles
C) breakfast cereals
D) haircuts
E) gasoline
Demand
The desire and ability of consumers to purchase goods and services at given prices.
Automobiles
Wheeled vehicles powered by engines, primarily used for personal transportation.
Breakfast Cereals
Manufactured food products made from processed grains that are often eaten as the first meal of the day.
- Gain insight into the dynamics of economic variability, covering both contractions and booms and their markers.
Verified Answer
AN
Ainna NajwaJun 09, 2024
Final Answer :
B
Explanation :
During a recession, people tend to cut back on big-ticket purchases like automobiles, making the demand for them decrease. The demand for necessities like medicines, breakfast cereals, haircuts, and gasoline may also decrease to some extent during a recession, but not as severely as automobiles.
Learning Objectives
- Gain insight into the dynamics of economic variability, covering both contractions and booms and their markers.