If Incomes Increase, Then the ____ in the Market for Luxury

question 60

Multiple Choice

If incomes increase, then the ____ in the market for luxury cars as normal goods ____.

• A)supply; decreases
• B)supply; increases
• C)demand; increases
• D)demand; decreases
• E)both supply and demand; increase

---

Definitions:

Resources

Assets, materials, and inputs used to produce goods and services; can be natural, human, or capital.

Useful Forms

Objects or substances that have been modified or structured in a way that makes them beneficial or practical for specific purposes.

Natural Gas

A fossil fuel used primarily for heating, cooking, and electricity generation, consisting mainly of methane.

Government Savings Bond

A low-risk investment product issued by a government, offering a fixed rate of interest over a specified period.