When Consumers' Incomes Increased 10 Percent, the Quantity of Milk

question 45

Multiple Choice

When consumers' incomes increased 10 percent, the quantity of milk bought increased 5 percent. This result means

• A) the demand for milk is income elastic.
• B) milk is a necessity.
• C) milk is a luxury.
• D) milk is an inferior good.

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Definitions:

Superego

A component of Sigmund Freud's psychoanalytic theory, representing the ethical and moral considerations in the personality.

Internalized

Internalized refers to processes or attributes that are deeply integrated into an individual's self-concept or belief system, often influencing behavior and attitudes.

Superego

The component of the psyche in psychoanalytic theory, operating as a moral check on the ego and embodying societal standards and values.

Death Instinct

In psychoanalytic theory, the drive towards death and self-destruction, opposing the life instincts.