Suppose Canned Soup Is an Inferior Good

question 18

Multiple Choice

Suppose canned soup is an inferior good.This means that

• A)when income rises,more cans of soup will be bought.
• B)when income rises,fewer cans of soup will be bought.
• C)when income falls,fewer cans of soup will be bought.
• D)you will never consume canned soup because of its low quality.

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Definitions:

Conventional

Referring to ideas, methods, or standards that are widely accepted and practiced within a society or culture.

Preconventional

A level of moral development where individuals' decision-making is based on avoiding punishment or seeking personal gain.

Individualism

Giving priority to one’s own goals over group goals and defining one’s identity in terms of personal attributes rather than group identifications.

Service-learning Programs

Learning experiences that combine significant service to the community with educational content and reflective exercises to enhance the educational outcome, encourage social responsibility, and bolster community ties.