Which of the following businesses is most likely to experience a rise in demand as consumer income falls? a. a tourism company selling holiday trip treats b. producers of luxury cars c. gold and precious stones trader d. discount stores that sells cheap items all year round
Which of the following businesses is most likely to experience a rise in demand as consumer income falls? a. a tourism company selling holiday trip treats b. producers of luxury cars c. gold and precious stones trader d. discount stores that sells cheap items all year round
Chapter6: Elasticities
Section: Chapter Questions
Problem 12P
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Question
Which of the following businesses is most likely to experience a rise in demand as consumer income falls?
a.
a tourism company selling holiday trip treats
b.
producers of luxury cars
c.
gold and precious stones trader
d.
discount stores that sells cheap items all year round
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