If an Increase in Income Leads to a Decrease in the Demand

question 69

Multiple Choice

If an increase in income leads to a decrease in the demand for popcorn, then popcorn is

• A)an inferior good.
• B)a neutral good.
• C)a necessity.
• D)a normal good.

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Definitions:

Technological Advance

The process of developing new technologies or improving existing ones, leading to increased efficiency, new products, or capabilities.

Topography

The detailed mapping or description of the features of a place or region, especially in relation to its natural and built environment.

Vicious Circle

A complex chain of events that reinforces itself through a feedback loop, leading to a detrimental situation.