Multiple Choice
Which of the following is NOT one of the main roles of the government in the U.S. market economy?
38
views
0. Basic Principles of Economics
Introduction to Economics
Struggling with Microeconomics?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which economic condition typically occurs during a popular vacation destination's off-season?
A
An increase in prices due to higher demand
B
A shortage of available hotel rooms
C
An increase in employment opportunities
D
A decrease in demand for local goods and services
Verified step by step guidance1
Understand the concept of demand fluctuations in seasonal markets, such as vacation destinations, where demand varies significantly between peak season and off-season.
Recognize that during the off-season, fewer tourists visit the destination, leading to a decrease in demand for local goods and services like hotels, restaurants, and entertainment.
Recall the basic law of demand: when demand decreases, prices tend to fall rather than rise, and there is usually no shortage of goods or services.
Consider employment opportunities: with lower demand, businesses may reduce staff or hours, so an increase in employment is unlikely during the off-season.
Conclude that the typical economic condition during the off-season is a decrease in demand for local goods and services, which can lead to lower prices and less economic activity.
Related Videos
Related Practice
Introduction to Economics practice set
Problem sets built by lead tutorsExpert video explanations