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If consumer preferences shift toward healthier foods, what happens to the demand for fast food?
Decreases
What effect does an increase in the number of sellers in a market have on supply?
Increases supply
This factor involves consumer anticipations about future prices or availability that can influence current demand levels.
Expectations
A rise in consumer income typically does what to demand?
increase
A government regulation that increases the costs of production would likely lead to:
A decrease in supply
An increase in population generally leads to an increase in demand.
True
An increase in the price of a complement good will lead to
A decrease in demand for the original good
This determinant refers to how changes in consumer tastes and trends can influence demand for a product.
Consumer Preferences
A change in consumer preferences can lead to a shift in the demand curve.
True
Which of the following would likely decrease supply?
Higher production costs
This factor indicates how a rise or fall in consumer income affects the demand for various types of goods (normal vs. inferior).
Income Levels
The introduction of new technology always decreases supply in a market.
False
Expectations of higher future prices typically result in
Increased current demand
This determinant considers how the price changes of complementary or substitute goods impact the demand for a specific product.
Price of Related Goods
Which of the following factors can shift the demand curve?
Consumer income