How Far West You Live from the Prime Meridian Is

question 20

Multiple Choice

How far west you live from the prime meridian is measured as your _____ ,whereas an imaginary line marking all those places at that same distance west of the prime meridian is called a _____ .

• A)longitude;meridian
• B)meridian;longitude
• C)latitude;parallel
• D)parallel;latitude
• E)location;place

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Definitions:

Income Effect

How an individual's or an economic system's revenue shift affects the demand level for a particular good or service.

Substitution Effect

The economic principle that as the price of a good or service rises, consumers will replace it with cheaper alternatives, affecting the demand for goods.

Normal Good

A Normal Good is a type of good for which demand increases as the income of consumers increases and decreases when consumer income decreases, all else being equal.

Indifference Curve

A curve showing the different combinations of two products that yield the same satisfaction or utility to a consumer.