When a Rise in the Price of One Item Results

question 159

Multiple Choice

When a rise in the price of one item results in a decrease in the demand for another good, then the two goods are

• A) substitute goods.
• B) complementary goods.
• C) inferior goods.
• D) satisfying the law of supply.

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Definitions:

Electricity Generation

The process of producing electrical power through various means such as thermal, hydroelectric, nuclear, solar, and wind energy.

Petroleum

A naturally occurring, yellowish-black liquid found in geological formations beneath the Earth's surface, used primarily as a fuel source.

Per Capita Water Use

The average amount of water used per person within a specific population or area over a certain time frame.

Renewable Energy Sources

Energy sources that are replenished naturally, such as solar, wind, hydro, and geothermal power.