If Income Increases and the Demand for Bus Rides Decreases

question 314

Multiple Choice

If income increases and the demand for bus rides decreases,

• A) bus rides are a normal good.
• B) consumers are behaving irrationally.
• C) bus rides are an inferior good.
• D) bus rides are a substitute good.
• E) bus rides must be a complement good with some other good.

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Definitions:

Profit Centers

Individual segments, departments, or divisions of a business that are responsible for generating their own revenue and profit, allowing for tracking and analysis of their financial performance separately from the overall company.

Profit Center

A part of an organization that directly contributes to its financial gain, often assessed on its ability to generate income exceeding its operational costs.

Sales Training

The process of providing sales staff with the necessary knowledge, skills, and strategies to effectively sell products or services.

Outsourced Training

The practice of having external specialists or companies conduct training and development activities for an organization's employees.