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- Subject
- Marketeconomics-mcqs › market
- Published
- 31 May 2019
- Last updated
- 28 May 2026
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.
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.
More Market MCQs
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- 5.Why is a competitive equilibrium considered Pareto efficient?