A Normal Good Is a Good for Which Demand Increases

question 236

Multiple Choice

A normal good is a good for which demand increases as:

• A) the income of consumers increases.
• B) its own price increases.
• C) the price of close substitutes decreases.
• D) the total number of consumers increases.
• E) a reflection of changing consumer tastes.

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Definitions:

Intend

To have a course of action as one's purpose or objective; to plan.

Defamation

Any published or publicly spoken false statement that causes injury to another’s good name, reputation, or character.

False Statement

A declaration that is untrue or misleading, possibly made with the intention of deceiving the recipient.

Tort Liability

A legal obligation arising from civil wrongs or injuries for which a court provides a remedy in the form of damages.