When a Rise in the Price of One Item Results

question 159

Multiple Choice

When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are

• A) substitute goods.
• B) complementary goods.
• C) inferior goods.
• D) satisfying the law of supply.

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Definitions:

Helplessness

A state in which an individual feels unable to control events affecting them, leading to a lack of motivation and depression.

Negative Outcome Expectancy

The belief or anticipation that actions or events will lead to undesirable results.

Pessimistic Attributions

The tendency to explain the causes of negative events in one's life as internal, stable, and global.

Anchoring Effect

A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.