If the Price of One Good Goes Up and the Demand

question 186

Multiple Choice

If the price of one good goes up and the demand of a related good goes down, the two goods are

• A) complements.
• B) substitutes.
• C) inferior goods.
• D) normal goods.

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Definitions:

Social Context

Refers to the immediate physical and social setting in which people live or in which something happens or develops, including the culture, institutions, and individuals that surround and influence a person.

Cognitive Therapy

A form of psychotherapy that emphasizes the importance of thought patterns in influencing emotions and behavior, aiming to change negative thinking.

Behavior Modification

A systematic approach to changing behavior through the application of the principles of conditioning.

Psychoanalysis

A therapeutic approach and theory of psychology developed by Sigmund Freud that emphasizes unconscious motivations and conflicts as influences on behavior.