Which of the following statements are correct? Select one: a. A fall in the oil price would shift up (left) the supply curve for plastics. b. The launch of a new Samsung smartphone would shift up the demand curve for existing iPhones. c. A fall in the oil price would shift up the demand curve for oil. d. A fall in the mortgage interest rate would shift up the demand curve for new houses.

Which of the following statements are correct? Select one: a. A fall in the oil price would shift up (left) the supply curve for plastics. b. The launch of a new Samsung smartphone would shift up the demand curve for existing iPhones. c. A fall in the oil price would shift up the demand curve for oil. d. A fall in the mortgage interest rate would shift up the demand curve for new houses.

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Question

Which of the following statements are correct?

Select one:

A fall in the oil price would shift up (left) the supply curve for plastics.

The launch of a new Samsung smartphone would shift up the demand curve for existing iPhones.

A fall in the oil price would shift up the demand curve for oil.

A fall in the mortgage interest rate would shift up the demand curve for new houses.

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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