When Consumers Switch to Cheaper Alternative Products This Is Known

question 8

Multiple Choice

When consumers switch to cheaper alternative products this is known as:

• A) The income effect
• B) The Giffen effect
• C) The derived effect
• D) The substitution effect

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Definitions:

Dichloroethene

An organochloride compound containing two chlorine atoms attached to a double-bonded carbon structure; used in organic synthesis and as an intermediate in the production of chlorinated solvents.

Molecular Dipole Moment

A measure of the separation of positive and negative electrical charges within a molecule, influencing its polarity and interactions with other molecules.

Molecular Dipole Values

Quantitative measures of the polarity of a molecule, determined by the distribution of electrical charges.

Polar Molecules

Molecules exhibiting a distribution of charge due to differences in electronegativity between bonded atoms, resulting in dipole moments.