For a Demand Curve to Be Upward Sloping, the Good

question 288

Multiple Choice

For a demand curve to be upward sloping, the good would have to be an inferior good, and

• A)the income effect would have to be larger than the substitution effect.
• B)the income effect would have to be smaller than the substitution effect.
• C)the income effect would have to be equal to the substitution effect.
• D)the income effect and the substitution effect would have to be nonexistent.

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Definitions:

Achieve Objectives

The process of successfully reaching goals or targets through planned strategies and actions.

Content Theories

Theories that focus on identifying and understanding the specific needs and motives that drive human behavior and satisfaction in organizational contexts.

Different Needs

The varied and unique requirements or wishes of individuals or groups to achieve satisfaction or fulfillment.

Motivation

The internal drive that compels individuals to act towards achieving goals, influenced by both intrinsic factors (inner desire) and extrinsic factors (external rewards).