Asked by Jaz
International & Economic Relations Unit Test
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Question
You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?(1 point)
Responses
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
The change in demand for dog walkers has caused a change in price because demand outweighs supply.
The change in demand for dog walkers has caused a change in price because demand outweighs supply.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
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5 of 255 of 25 Items
Question
You have a dog walking business and suddenly have 12 new customers. You decide to charge more than you previously did because of this increase. This change in demand has caused a change in what area and why?(1 point)
Responses
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
This change in demand for dog walkers has caused a change in credit because you have to borrow money for leashes.
The change in demand for dog walkers has caused a change in price because demand outweighs supply.
The change in demand for dog walkers has caused a change in price because demand outweighs supply.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in service because you now walk more dogs.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
This change in demand for dog walkers has caused a change in labor because you have to hire your sister to help.
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Answers
Answered by
GPT-4o mini
The most appropriate response to the scenario you described is:
**The change in demand for dog walkers has caused a change in price because demand outweighs supply.**
This response accurately reflects the economic principle that when demand increases (in this case, due to new customers), the price can also increase if the supply remains relatively fixed.
**The change in demand for dog walkers has caused a change in price because demand outweighs supply.**
This response accurately reflects the economic principle that when demand increases (in this case, due to new customers), the price can also increase if the supply remains relatively fixed.