Which of the following will cause an increase in the quantity demanded of ice cream at an ice cream store?
a. The onset of summer brings about an increase in the temperature.
b. The price of frozen yogurt that is sold at the store is reduced by 5 percent.
c. A new ice cream flavor is introduced at the store.
d. The store introduces a limited period offer of 20 percent off on the price of ice cream.
e. The income of the store's consumers increases.
Question 2
A market system:
a. produces answers to a society's what and who questions, but not the for whom question.
b. produces answers to a society's what and for whom questions, but not the how question.
c. produces answers to a society's how and for whom questions, but not the what question.
d. produces answers to a society's what, how, and for whom questions.
China’s 8% annual increase in oil consumption
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