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Marketeconomics-mcqs › market
Published
31 May 2019
Last updated
28 May 2026

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If consumers develop a stronger preference for apples, how will this change affect the apple market?

Multiple choice question for Market. Select an option, then review the explanation below.

Choose the correct answer

Explanation

When consumer preferences shift in favor of apples, the demand curve for apples shifts to the right, indicating an increase in demand. This higher demand typically causes suppliers to offer more apples, which is reflected as an increase in the quantity supplied (movement along the supply curve), not a shift in supply. Therefore, the correct description is that demand rises and the quantity supplied increases.

Practice related questions from the same subject.

  1. 1.Broadcasting firms use satellite TV subscriptions and signal detection tools primarily to combat which issue?
  2. 2.Which of the following is a classic example of a public good?
  3. 3.Which of the following factors can lead to market failure?
  4. 4.When a neighbor burns yard debris and smoke enters your home, what type of externality does this represent?
  5. 5.Why is a competitive equilibrium considered Pareto efficient?

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Suppose consumer tastes shift toward the consumption of apples Which of the following statements is an accurate description of the impact of this event on the market for apples ? - PakMcqs | PakQuizHub