If the Demand for a Good Increases Because Consumer Income

question 406

Multiple Choice

If the demand for a good increases because consumer income increases, the good is a(n) :

• A) inferior good.
• B) normal good.
• C) necessity good.
• D) luxury good.

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Definitions:

Dyads

A group consisting of two persons, often used in the context of interpersonal relationships, communication studies, and social psychology.

Entitativity

The perception or quality of being a distinct entity, often used in social psychology to discuss how individuals perceive groups as coherent, unified wholes.

Prejudice

Prejudice is a preconceived opinion or judgment toward people or a group without sufficient knowledge, thought, or reason.

Stereotyping

The act of assigning oversimplified or generalized traits, behaviors, or beliefs to a particular group of people without acknowledging individual variation.