________ Diversity Refers to Diversity with Respect to Attributes That

question 109

Multiple Choice

________ diversity refers to diversity with respect to attributes that are less easy to observe initially but that can be inferred after more direct experience.

• A) Surface-level
• B) Additive
• C) Demographic
• D) Deep-level
• E) Conjunctive

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Definitions:

Inferior Goods

Products whose demand decreases as the income of the consumer increases, contrasting with normal goods.

Substitute Goods

Products or services that can be used in place of one another, satisfying similar needs or desires.

Complementary Goods

are products or services that are used together, where the use or consumption of one increases the demand for the other.

Close-Substitute

A good or service that can easily replace another in satisfying consumer needs, with very little change in consumption patterns.