If a 20 Percent Increase in the Price of One

question 98

Multiple Choice

If a 20 percent increase in the price of one good leads to a 10 percent increase in the quantity demanded of another good at a specific price, the goods are:

• A) substitutes.
• B) normal.
• C) inferior.
• D) complements.

---

Definitions:

Tree Ferns

Tree Ferns are a group of ferns that grow with a trunk elevating the fronds above ground level, resembling a tree, found primarily in tropical and subtropical regions.

Chordates

A group of animals that have a notochord, a dorsal nerve cord, pharyngeal slits, and a post-anal tail at some point during their development.

Features Shared

Common traits or characteristics present across different species or groups, often indicating a common ancestry.

Taxonomic Groups

Categories used in the classification of organisms, arranged in a hierarchical system that ranges from broad to specific, such as kingdom, phylum, class, order, family, genus, and species.