Question

An increase in the price of electricity will:

a. increase the demand for kerosene heaters.

b. increase the demand for light bulbs.

c. increase the demand for stereos.

d. increase the demand for TVs.

Answer 1

Demand is defined as an economic term that refers to a customer's ability to purchase goods and services and the ability to pay a premium for a given commodity or service.

So,

An increase in the price of electricity will:

a. increase the demand for kerosene heaters.