If the Income Elasticity of Demand of a Good Is

question 202

Multiple Choice

If the income elasticity of demand of a good is negative, we can conclude that the good is:

• A) a normal good.
• B) an inferior good.
• C) a substitute.
• D) a complement.

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Definitions:

Attitude Object

Anything that an individual has a specific attitude or feeling about, which can range from physical objects to abstract concepts.

Temptation

A desire to engage in short-term urges for enjoyment, often at the expense of long-term goals.

Consumer Behaviours

The actions and decision processes of individuals or groups in purchasing and using products or services.

Attitude

A mental inclination shown through the assessment of a specific entity either positively or negatively.