When the Price of a Product Decreases,the Demand for a Substitute

question 168

Multiple Choice

When the price of a product decreases,the demand for a substitute product

• A) decreases.
• B) increases.
• C) changes to balance the price change.
• D) none of the above

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Definitions:

Anti-Saloon League

An influential American organization founded in 1893 that advocated for the prohibition of alcohol, playing a key role in the passage of the 18th Amendment, which initiated Prohibition.

Fourteenth Amendment

An amendment to the U.S. Constitution, ratified in 1868, granting citizenship to all persons born or naturalized in the United States including former slaves, and guaranteeing all citizens "equal protection of the laws."

Homer Plessy

An African American man whose 1896 Supreme Court case, Plessy v. Ferguson, upheld the constitutionality of racial segregation under the "separate but equal" doctrine.

Class Bias

A tendency to favor individuals from a certain social class over others, leading to unequal treatment based on socioeconomic status.