If an Individual's Income Increases, Then the Demand for a Normal

question 101

Multiple Choice

If an individual's income increases, then the demand for a normal good will:

• A) decrease.
• B) increase.
• C) remain constant.
• D) rotate.

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Definitions:

Trademarks

Legal protections for logos, names, and other unique marks that distinguish goods or services and protect them from being used without permission.

Raw Materials

The basic, unprocessed resources required for manufacturing goods or providing services, such as metals, wood, oil, or agricultural products.

Outsourcing

Is the process of hiring outside firms to handle basic HRM functions, presumably more efficiently than the organization could.

Background Checks

The process of verifying an individual’s personal, financial, and/or criminal history, often done by employers to ensure the reliability of potential hires.