Essential Attributes Are Properties That Are

question 43

Multiple Choice

Essential attributes are properties that are:

• A)jointly exhaustive
• B)mutually exclusive
• C)consistent or the same
• D)understood and appreciated by everyone
• E)fundamental or important

---

Definitions:

Complements

Goods or services that are used together, such that the increase in demand for one results in an increase in demand for the other.

Bacon and Eggs

A popular breakfast dish in various cultures consisting of fried bacon and eggs.

Cross-Price Elasticity

A measure used in economics to show how the quantity demanded of one good changes in response to a change in the price of another good.

Inferior Goods

Goods for which demand decreases as the income of the consumer increases, opposite to normal goods.