An Increase in the Consumption of a Good Resulting from a Reduction

question 139

Multiple Choice

An increase in the consumption of a good resulting from a reduction in price that makes the good cheaper in relation to other goods is called the

• A) substitution effect.
• B) income effect.
• C) real balance effect.
• D) inelasticity effect.

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Definitions:

Training Outcomes

The results or achievements of a training program, including the impact on participants' skills, knowledge, attitudes, or job performance.

Environmental Factors

Various external conditions and influences that affect life, development, and survival of individuals and organizations.

Resource Allocation Theory

A theory that deals with how resources such as time, money, and effort are distributed among competing needs or interests.

Cognitive Resources

The mental capabilities and processes available to an individual for learning, problem-solving, and decision-making.