The Crust of the Earth Is Covered by About ________

question 44

Multiple Choice

The crust of the Earth is covered by about ________ water in the hydrosphere.

• A)50%
• B)60%
• C)70%
• D)80%
• E)90%

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Definitions:

Income Effect

The impact on consumer's choice arising from a change in their income, influencing their purchasing power.

Giffen Good

A type of inferior good for which demand increases as the price increases, violating the basic law of demand.

Inferior Good

A type of good whose demand decreases when consumer income rises, and vice versa, often contrasted with normal goods whose demand increases with rising income.

Normal Good

A good for which demand increases when consumer income rises, and decreases when consumer income falls.