Travel by Bus and Pawn-Shop Services Would Be Expected to Be

question 21

Multiple Choice

Travel by bus and pawn-shop services would be expected to be examples of:

• A) normal goods.
• B) inferior goods.
• C) substitute goods.
• D) complementary goods.

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Definitions:

Income Distribution

The way in which the total income of an economy is distributed among its population.

Rich

Having a great deal of wealth, assets, or resources; affluent.

Poor

Individuals or communities that lack financial resources and essentials for a minimum standard of living.

Poverty Threshold

The minimum level of income deemed adequate in a particular country to maintain a standard of living.