In 2012 Nike Reduced the Price of Its Running Shoes

question 221

Multiple Choice

In 2012 Nike reduced the price of its running shoes by 20 percent. As a result, the substitution effect caused

• A) the demand for Nike shoes to increase.
• B) people to switch from Adidas shoes and buy more Nikes.
• C) the relative price of Nikes to increase.
• D) the demand curve for Nikes to shift rightward.

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Definitions:

Emancipation Process

The series of actions leading to the liberation of slaves, most notably exemplified by the Emancipation Proclamation in the United States during the Civil War.

Racial Superiority

The belief that a particular race is superior to others, often used to justify discrimination, segregation, and other maltreatment of those deemed "inferior."

Slave Property

Human beings owned by other humans as property in a system of forced labor.

Deep South

A term often used to describe the southeastern region of the United States, known for its historical agricultural economy and significant role in American history, particularly during the Civil War and the Civil Rights Movement.