If the Price of One Good Goes Up and the Demand

question 186

Multiple Choice

If the price of one good goes up and the demand of a related good goes down, the two goods are

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

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Definitions:

Quantity Supplied

The level of supply of a product or service that vendors are eager and able to make available for purchase at an established price over a given period.

Complementary Product

A product that is consumed or used together with another product, enhancing the value and demand of the other product.

DVD Players

Electronic devices designed to play discs in the Digital Video Disc (DVD) format, encompassing both movies and other digital content.

Peanut Butter

A food paste or spread made from ground, dry-roasted peanuts.