Which of the Following Would Cause a Consumer to Purchase

question 177

Multiple Choice

Which of the following would cause a consumer to purchase less of a good when the price of the good rises?

• A) The income effect
• B) The substitution effect
• C) Both a and b
• D) Neither a nor b

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Definitions:

Organizational Efficiency

The ability of an organization to achieve its goals with the minimum expenditure of time, money, and effort.

Economic Factors

Elements that influence the functioning of an economy, including inflation rates, employment levels, GDP growth, and others.

Work Environment

The physical and psychological conditions under which employees work, including factors like office space, culture, and management style.

Autocratic Leader

A leadership approach where one person makes all the decisions without significant contributions from other members of the group.