We Say That Goods Are Substitutes When They

question 28

Multiple Choice

We say that goods are substitutes when they:

• A) serve similar-enough purposes that a consumer might purchase one in place of the other.
• B) are consumed together, so that purchasing one will make a consumer more likely to purchase the other.
• C) can replace something consumers typically purchase at a significantly lower price.
• D) change a consumer's preferences for a good or service.

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Definitions:

B2B Markets

Business-to-business markets, where transactions of goods or services occur between businesses rather than between businesses and consumers.

Stimulant Medication

Drugs that increase alertness, attention, and energy by boosting the activity of certain neurotransmitters in the brain.

Cognitive Restructuring

A therapeutic technique used to challenge and change negative and irrational thoughts to more positive and rational ones.

Emotion-Focused Coping

A type of stress management that involves trying to reduce the negative emotional responses associated with stress.