Asked by Yolanda Lemmitt on Jun 04, 2024
Verified
A change in the demand for automobiles may be caused by a ______________.
A) change in the price of gasoline
B) change in income
C) change in tastes and preferences
D) All of the choices.
Automobiles
Automobiles that run on an internal combustion engine or are powered by electricity, designed for moving individuals or cargo.
Income
Financial returns received regularly from work or investment sources.
Preferences
Individual choices or priorities regarding products, services, or outcomes based on factors like taste, convenience, and value.
- Understand the factors that cause changes in supply and demand.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
D
Explanation :
A change in the demand for automobiles can be caused by any of the given factors - a change in the price of gasoline, a change in income, or a change in tastes and preferences. Therefore, the best choice is D, "All of the choices."
Learning Objectives
- Understand the factors that cause changes in supply and demand.
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