If Orange Juice and Apple Juice Are Substitutes, an Increase

question 88

True/False

If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the left.

---

Definitions:

Economic Development

The way in which a country advances its people's economic, political, and social conditions.

GDP

Gross Domestic Product, the total value of all goods and services produced within a country over a specific period.

Service Sectors

The segment of the economy that provides intangible goods and services to consumers, including retail, education, health care, and financial services.

Poor Countries

Nations with low levels of economic productivity, low per capita income, and generally low standards of living.