Which of the following is an example of a demand shock?
A)a large increase in the price of oil
B)the introduction and greater availability of credit cards
C)a drought that destroys agricultural crops
D)unions obtain a substantial wage increase

Question

Quizplus · Accepted Answer

A demand shock refers to a sudden event that increases or decreases demand for goods or services. The introduction and greater availability of credit cards can increase consumer spending, thus increasing demand.

Which of the Following Is an Example of a Demand