For Normal Goods Like Cola and Pizza,what Is a Likely

question 49

Multiple Choice

For normal goods like cola and pizza,what is a likely result of the substitution effect when the price of pizza falls

• A)The consumer feels richer, so he buys more cola.
• B)The consumer feels richer, so he buys less cola.
• C)Cola becomes relatively more expensive, so the consumer buys less cola.
• D)Cola becomes relatively less expensive, so the consumer buys less cola.

---

Definitions:

Economic Domain

The aspect of society concerned with the production, consumption, and management of goods and services.

Sapir-Whorf Thesis

A hypothesis that proposes that the structure of a language shapes its speakers' world view and cognition, influencing their perception of reality.

Conceptual Thinking

The ability to understand and manipulate abstract concepts, seeing connections between ideas not immediately obvious.

People's Agency

Refers to the capacity of individuals and groups to act independently and make their own free choices.