A Good Is Classified as Inferior If

question 5

Multiple Choice

A good is classified as inferior if:

• A) consumers buy less when the price rises.
• B) consumers buy less when income rises.
• C) consumers buy less when the price falls.
• D) consumers buy more when income rises.
• E) better quality goods exist.

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Definitions:

Psychodynamic Approach

An approach to psychology emphasizing unconscious thought, the conflict between biological drives (such as the drive for sex) and society’s demands, and early childhood family experiences.

Unconscious Conflicts

Internal struggles arising from unresolved, often repressed, desires or impulses that can lead to mental disturbances or disorders according to psychoanalytic theories.

Psychoanalysis

Freud’s therapeutic technique for analyzing an individual’s unconscious thoughts.

Psychoanalysis

A therapeutic approach and theory of psychological disorders founded by Sigmund Freud, emphasizing unconscious processes and unresolved past conflicts.