Which of the following is least likely to increase the demand for new tires?
A) a decrease in the price of tires
B) a decrease in the price of cars
C) an increase in consumer income
D) an increase in the number of miles people drive per year

Question

Quizplus · Accepted Answer

If the price of tires decreases, there may be some increase in demand as consumers may be more willing to buy tires at a lower price, but it is the least likely option among the given choices. Decrease in the price of cars (choice B) may increase the demand for cars, which in turn will increase the demand for tires. An increase in consumer income (choice C) may lead to increased spending on cars and other goods, which could increase the demand for tires. An increase in the number of miles people drive per year (choice D) would lead to increased wear and tear on tires, increasing the demand for new tires.

Which of the Following Is Least Likely to Increase the Demand