When an Individual Questions the Claims of a Particular Mouthwash

question 97

Multiple Choice

When an individual questions the claims of a particular mouthwash to "brighten your smile" in three days or less, they are engaging in

• A)skepticism.
• B)examining the accuracy of these claims.
• C)examining reality.
• D)considering the credentials of the authority.

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Definitions:

Positive

Affirmative, constructive, or based on factual data; often used in reference to positive statements in economics which describe the world as it is, rather than how it should be.

Good Y

A general term used to represent a specific product or commodity in economic models or discussions.

Demand Function

A mathematical representation that describes the relationship between the quantity of a good that consumers are willing and able to purchase at various prices, holding other factors constant.

Income Elasticity

A measure of how much the demand for a product changes in response to a change in consumers' income.