Recall the Application about the changes in supply and demand in the cruise ship industry in 2009 and
2010 to answer the following question(s).
-According to this Application, lower real income in 2009 and 2010 caused the _______ curve for cruise ship berths to shift to the _______.

Question

Quizplus · Accepted Answer

Lower real income typically reduces consumers' purchasing power, leading to a decrease in demand for luxury goods like cruise ship berths, causing the demand curve to shift to the left.

Recall the Application About the Changes in Supply and Demand