Multiple Choice
Alibaba is based in China. Of which of the following organizations is China a member?
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0. Basic Principles of Economics
Introduction to Economics
Multiple Choice
Which of the following factors primarily drive the market for electric vehicles (EVs)?
A
Consumer preferences for environmentally friendly transportation
B
Increased production of coal-fired power plants
C
Government restrictions on gasoline sales
D
Decreased demand for public transportation
Verified step by step guidance1
Step 1: Understand the concept of demand drivers in microeconomics, which are factors that influence consumers' willingness and ability to purchase a good or service.
Step 2: Identify the options given and analyze how each factor affects the demand for electric vehicles (EVs).
Step 3: Recognize that consumer preferences for environmentally friendly transportation increase the demand for EVs because consumers value cleaner alternatives to traditional vehicles.
Step 4: Evaluate other options: increased production of coal-fired power plants does not directly increase demand for EVs and may even reduce their appeal due to environmental concerns; government restrictions on gasoline sales could affect demand but are less direct than consumer preferences; decreased demand for public transportation might increase or decrease EV demand depending on context but is not the primary driver.
Step 5: Conclude that the primary driver among the options is consumer preferences for environmentally friendly transportation, as it directly influences the demand for EVs by shifting consumer tastes.
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