If the Income Elasticity of Food Is 0

question 116

Multiple Choice

If the income elasticity of food is 0.72,then food is

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

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Definitions:

Ideal Type

A conceptual tool used by sociologists, particularly in the work of Max Weber, to describe and understand the essential characteristics of a social phenomenon.

Ideal Type

In sociology, a conceptual model that serves as a standard of comparison for empirical observations, developed by Max Weber.

General Sociological

Pertaining to the broad field of sociology, focusing on social behaviors, social structures, and patterns of relationships within society as a whole.

Structural

Pertains to the underlying and enduring patterns or configurations in social life that influence social actions and institutions.