A general change in the way business is developing is called:

• A. an externality
• B. a market equilibrium
• C. a price ceiling
• D. an economic trend

Answer: (D)

Verified step by step guidance

1. Understand the key terms provided in the options: an externality, a market equilibrium, a price ceiling, and an economic trend.
2. Define each term: An externality is a side effect of a transaction affecting third parties; a market equilibrium is the point where supply equals demand; a price ceiling is a government-imposed limit on how high a price can be charged.
3. Recognize that the question asks for a general change in the way business is developing, which implies a broad, ongoing shift rather than a specific market condition or policy.
4. Identify that an economic trend refers to a general direction or pattern in economic activity or business development over time.
5. Conclude that the term 'economic trend' best fits the description of a general change in how business is developing.