The Cost of Basics Like Milk, Bread, Potatoes and Bananas

question 25

Multiple Choice

The cost of basics like milk, bread, potatoes and bananas has jumped in the past year, forcing families to nix luxuries, steer away from organic goods and buy more house brands. What does customer Elize Joseph mean when she said, "You can cut back on buying clothes and shoes, but you can't do that with food; you have to eat"?

• A) The price elasticity of demand for food is higher than for clothes.
• B) The price elasticity of demand for food is lower than for clothes.
• C) Income elasticity of demand for food is positive.
• D) Income elasticity of demand for food is negative.

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Strong Work Group

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Guidelines or principles that govern acceptable behavior and decision-making, based on moral values and societal norms.

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The environment and all existing circumstances affecting labor in the workplace, including job hours, physical aspects, legal rights and responsibilities.

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