If a Decrease in Income Increases the Demand for a Good

question 86

Multiple Choice

If a decrease in income increases the demand for a good, what is the good called?

• A) a substitute good
• B) a complementary good
• C) a normal good
• D) an inferior good

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Definitions:

Mature Groups

Teams or groups that have developed advanced levels of communication, structures, and processes to achieve high performance.

Groupthink

Within a team, the psychological inclination towards agreement or uniformity fosters a scenario where irrational or suboptimal decisions are made.

Group Development

The process through which a group evolves over time, typically moving through stages of forming, storming, norming, performing, and adjourning.

Roles

The functions or parts played by individuals in a particular social or working situation.