Refer to the Information Provided in Figure 3

question 13

Multiple Choice

Refer to the information provided in Figure 3.5 below to answer the question(s) that follow. Figure 3.5
-Refer to Figure 3.5. If consumer income decreases, the demand for chili peppers shifts from D₀ to D₁. This implies that chili peppers are a(n)

• A) normal good.
• B) inferior good.
• C) substitute good.
• D) complementary good.

---

Definitions:

Intangible Asset

An asset that lacks physical substance but is identifiable and provides economic benefits to the entity, such as patents, trademarks, and copyrights.

Fixed Asset

Long-term tangible property used in the operation of a business and not expected to be consumed or converted into cash in the near term.

Treasury Note

A medium-term government debt security with fixed interest rates and maturities typically between one and ten years.

Natural Resource

Assets that occur in nature, such as minerals, forests, water, and land, which can be utilized for economic benefit or commercial value.