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Glossary
Knowledge Check - Scenario 3

For the following milk market scenario, identify the type and cause of change.


Scenario 3: A new health study shows reduced cancer risks for milk drinkers.

1. Based on Scenario 3, the demand curve for milk

shifts to the right.

shifts to the left.

does not shift.

 
Scenario 3: A new health study shows reduced cancer risks for milk drinkers.
 
2. Based on Scenario 3, which factor caused the change in demand for milk?

A change in consumer expectations

A change in consumer tastes or preferences

A change in the number of consumers in the market

A change in consumer income

A change in the price of a substitute good

A change in the price of a complementary good

A change in the price of milk