Final answer:
If a technological advance among Chinese TV makers causes the world price of TVs to fall by 100, the most likely affected factor is the quantity demanded of TVs in the global market. Lower TV prices could also lead to increased competition among TV makers worldwide. The decrease in the world price of TVs may also have employment effects.
Step-by-step explanation:
If a technological advance among Chinese TV makers causes the world price of TVs to fall by 100, the most likely affected factor is the quantity demanded of TVs in the global market. When the price of a good decreases, consumers are more likely to buy more of it, leading to an increase in the quantity demanded.
Additionally, lower TV prices could also lead to increased competition among TV makers worldwide. As Chinese TV makers become more technologically advanced and produce higher-quality TVs at lower prices, other TV manufacturers will need to lower their prices and improve their products to remain competitive.
Furthermore, the decrease in the world price of TVs may also have employment effects. As the demand for TVs increases with lower prices, Chinese TV manufacturers may need to expand their production capacity and hire more workers, while TV manufacturers in other countries might face challenges and potential job losses.