If the Cross-Price Elasticity of Demand for Computers and Software

question 81

Multiple Choice

If the cross-price elasticity of demand for computers and software is negative, this means the two goods are

• A)substitutes.
• B)complements.
• C)inferior.
• D)normal.

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Definitions:

Consumerism

The theory or policy that promotes an increasing consumption of goods as an economic policy or social system.

Standard Of Living

Refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Great Depression

A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States, marked by high unemployment and poverty.

Freedom Of Contract

The legal principle that individuals have the right to freely enter into agreements and contracts without unreasonable government interference.