Which Statement Is TRUE of an Inferior Good

question 139

Multiple Choice

Which statement is TRUE of an inferior good?

• A)When income increases,demand remains unchanged.
• B)When income increases,demand decreases.
• C)When income increases,demand increases.
• D)Income and demand are unrelated.

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Definitions:

Chain of Command

The hierarchy within an organization that establishes authority and responsibility, dictating how instructions are passed down and how issues are escalated.

Specialization of Labor

The division of labor into specific tasks and roles, aimed at increasing efficiency and productivity in the workforce.

Delegation

The process of assigning responsibility and authority to others to carry out specific tasks.

Interdisciplinary

An approach that integrates ideas, methods, and theories from multiple disciplines to advance understanding or solve problems beyond the scope of any single discipline.