Which of the Following Is a Tool Used to Create

question 8

Multiple Choice

Which of the following is a tool used to create a blog?

• A) Facebook
• B) WordPress
• C) LinkedIn
• D) Yelp

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Definitions:

Perfect Substitutes

are goods that can be completely exchanged for one another at a constant rate of substitution and possess identical levels of utility and functionality for consumers.

Substitution Effect

An alteration in consumer choice between two goods when the price of one good changes relative to the price of another, influencing the allocation of their budget.

Income Effect

The relationship between changing income in a person's life or the economy and the subsequent demand for certain goods or services.

Perfect Substitutes

Goods for which consumers are willing to replace one for the other at a constant rate, without affecting their level of utility.