Something Is a Normal Good If the Demand for the Good

question 59

Multiple Choice

Something is a normal good if the demand for the good

• A) increases as the consumer's income increases.
• B) increases as the consumer's income decreases.
• C) decreases if the price of a substitute good increases.
• D) increases if the price of a complement good increases.
• E) decreases as the income of the consumer increases.

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Definitions:

Airlines

Airlines are companies that provide air transport services for traveling passengers and freight. They utilize a fleet of aircraft to maintain scheduled and non-scheduled flight routes domestically and internationally.

Strategies

Plans of action designed to achieve long-term or overall goals and objectives.

Mission

A statement that defines the purpose, goals, and values of an organization, guiding its strategies, decisions, and operations.

Business

The clear, broad, underlying industry or market sector of an organization’s offering.