____ Arrays Are Two or More Arrays, Where Each Array

question 18

Multiple Choice

____ arrays are two or more arrays, where each array has the same number of elements and the elements in each array are directly related by their position in the arrays.

• A)Two-dimensional
• B)Multi-dimensional
• C)Parallel
• D)Complex

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Definitions:

Individual Demands

The demand for goods and services by an individual consumer, based on their preferences, income, and prices.

Marginal Utility

The additional satisfaction or value a consumer gains from consuming one more unit of a good or service.

Economic Good

A product or service that has value and can be sold in a market because it is scarce in relation to demand.

Substitution Effect

That part of an increase (decrease) in amount consumed that is the result of a good being cheaper (more expensive) in relation to other goods because of a reduction (increase) in price.