Question

If there is a good that is consumed almost entirely by children, a significant reduction in the birth rate would:________

Answer 1

If there is a good that is consumed almost entirely by children, a significant reduction in the birth rate would move its demand curve to the left.

What is a demand curve?

Basically, a demand refers to the quantity of a good that consumers are willing and able to purchase at various prices during a given time. For this demand, the curve is a sort if graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time such as a year.

When the demand curve move to the left, this indicates a decrease in demand because the consumers are purchasing fewer products for the same price. Some other causes are when Consumers spend less because the cost of living is rising or because government taxes have increased or decide to spend less and save more if they expect prices to rise in the future.

In conclusion, when there is a good that is consumed almost entirely by children, a significant reduction in the birth rate would move its demand curve to the left.

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