Asked by Tavares McGilberry on Sep 24, 2024
The wages for Nike workers increases.At the same time,we see the price for Adidas shoes increase.This would cause the price for Nike shoes_____________ and the quantity demanded for Nike shoes ____________.
A) Uncertain;decreases
B) Decreases;increases
C) Decreases;uncertain
D) Increases;uncertain
Nike Workers
Employees involved in the manufacturing or distribution processes of Nike products, often discussed in debates about labor practices and conditions.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.
- Comprehend the concept of market equilibrium and the impact of variations in supply and demand on the equilibrium price.
- Evaluate the effects of external influences, including advancements in technology or fluctuations in resource prices, on the dynamics of market supply and demand.
Learning Objectives
- Comprehend the concept of market equilibrium and the impact of variations in supply and demand on the equilibrium price.
- Evaluate the effects of external influences, including advancements in technology or fluctuations in resource prices, on the dynamics of market supply and demand.