Which of the following statements about the factors that influence demand is true?
A)As the availability of close substitutes increases, the demand for a product increases.
B)As real consumer income increases, demand for a product increases.
C)As the price of close substitutes increases, demand for a product declines.
D)Changing consumer tastes have little impact on demand for a product.

Question

Quizplus · Accepted Answer

As real consumer income (allowing for inflation) increases, demand for a product also increases.

Which of the Following Statements About the Factors That Influence