A Good Is Said to Be "Normal" If

question 115

Multiple Choice

A good is said to be "normal" if

• A) it is of high quality.
• B) consumers buy more of it at a high price.
• C) it has few substitutes.
• D) it has a positive income elasticity of demand.

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Definitions:

Incentivized

Encouraged or motivated through rewards or incentives to perform a particular action or to increase engagement and participation.

Counterfeit

A fraudulent imitation of a product, usually of lower quality, created with the intent to deceive consumers and capitalize on the original product's value or brand reputation.

Commercial

An advertisement broadcast on television or radio, aimed at promoting a product, service, or brand.

Content Marketing

A digital marketing strategy focused on creating, publishing, and distributing content for a targeted audience online.