When the Price of a Good Rises,consumers Buy a Smaller

question 137

Multiple Choice

When the price of a good rises,consumers buy a smaller quantity because of the ________ effect and the ________ effect.

• A)substitution; income
• B)normal; inferior
• C)substitute; complement
• D)supply; demand

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Definitions:

Glucose

A basic form of sugar that serves as a crucial source of energy for living beings and is found in numerous carbohydrates.

Leptin

A hormone primarily produced by fat cells and the small intestine that regulates energy balance by inhibiting hunger, thereby modulating food intake and long-term energy expenditure.

Insulin

A hormone produced by the pancreas that regulates blood sugar levels by facilitating the uptake of glucose into tissues.

Physiological Basis

Refers to the underlying biological mechanisms and processes that support the functioning of living organisms.