Question : Which of the following scenarios will not cause the demand curve for a specific product to shift?

Option 1: A change in the income of the product's consumers.

Option 2: Effective advertising campaign by a substitute good manufacturer.

Option 3: A decrease in the price of the product's raw material

Option 4: A widely publicized study claims that the product is hazardous to consumers' health.

Question : If a consumer's income rises or the price of a complementary good falls, the-
 

Option 1: The product's demand curve shifts to the right.

Option 2: The product's demand curve shifts to the left.

Option 3: The product's supply curve shifts to the right.

Option 4: The product's supply curve shifts to the left.

Question : What is the best possible explanation for a shift in the market supply curve for a product?

Option 1: Price increases in raw materials

Option 2: Introduction of a government tax on that product.

Option 3: Introduction of a new technique that makes the production of that commodity less expensive.

Option 4: A successful advertising campaign that promotes the product.

Question : What is the best possible explanation for a shift in the market supply curve for a product?

Option 1: An advertising campaign that is successful in promoting the product

Option 2: Introduction of a tax on that product by the government

Option 3: Increase in the price of raw materials
 

Option 4: Introduction of a new technique that makes the production of that commodity cheaper

Question : A product's unique selling proposition (USP) refers to:

Option 1: The lowest price in the market

Option 2: The product's distinct features or benefits

Option 3: The product's promotional activities

Option 4: The product's packaging design

Question : A product's unique selling proposition (USP) refers to:

Option 1: The lowest price in the market

Option 2: The product's distinct features or benefits

Option 3: The product's promotional activities

Option 4: The product's packaging design