In economic terms, to say that there has been an increase in demand for a product means that:

a. the demand curve has shifted to the left.
b. the product's price has fallen and as a result consumers are buying a larger quantity of the product.
c. the product has become scarce for some reason.
d. consumers are now willing to purchase more of the product at each possible price.

d

Economics

You might also like to view...

Realists and economic structuralists contend that the composition of the UN Security Council is an example of which major problem in international law?

a. how laws are ultimately interpreted by the council b. how agreements are made in the first place c. how undesirable norms and values are spread d. how weak or corrupt states are empowered

Economics

If the working-age population is 20 million and labor force is 13 million, the labor force participation rate is

A) 65 percent. B) 35 percent. C) 153 percent. D) 60 percent. E) impossible to calculate because data on the number of employed workers is needed.

Economics