Bananas and Apples Are Substitutes

question 10

Multiple Choice

Bananas and apples are substitutes.When the price of bananas rises,the equilibrium quantity of apples will ________ and the equilibrium price of apples will ________.

• A) increase; increase
• B) increase; decrease
• C) decrease; increase
• D) decrease; decrease

---

Definitions:

Internal Control System

A set of procedures and mechanisms implemented by a business to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Bank Statement

A bank statement is a summary of financial transactions that have occurred over a given period in a bank account, provided by the bank to the account holder.

Account Balance

The amount of money present in an account, representing the net of credits and debits at a particular point in time.

Liability

Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of assets, provision of services, or other economic benefits.