Day: June 11, 2025

Little Staffie is a normal good which has become increasingly unfashionable during the past year.

What changes to supply, demand and market price should this change in consumer tastes have created?

Select ONE answer:

1. No impact on the demand curve, but a fall in market price and a fall in quantity supplied
2. A shift in the demand curve to the right, a fall in market price and a fall in quantity supplied
3. A shift in the demand curve to the left, a fall in market price and a fall in quantity supplied
4. No impact on the demand curve, no impact on the supply curve but a fall in market price

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > A normal good which has become increasingly unfashionable will see its demand curve shift to the left, a fall in market price and a fall in quantity supplied.
4. Not correct

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