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Which of the following will result in a decrease in demand is a leftward shift of demand curve?A product whose demand falls when income rises, and vice versa, is called an inferior good. In other words, when income increases, the demand curve for an inferior good shifts to the left.
Which of the following will result to a leftward shift of the demand curve?A leftward shift in the demand curve indicates a decrease in demand because consumers are purchasing fewer products for the same price.
Which of the following will result in decrease in demand?In economics, an inferior good is a good whose quantity demanded decreases when consumer income rises (or quantity demanded rises when consumer income decreases), unlike normal goods, for which the opposite is observed. If income decreases, the quantity of normal goods demanded will also decrease.
What are the causes of leftward shift in demand?(iii) Rise in the price of complementary goods: The demand for a good falls with a rise in the price of its complementary goods. As a result, the demand curve for the commodity shifts to the left with a rise in the price of its complementary goods.
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