When You Purchase a Digital Camera, What Type of Software

question 28

Multiple Choice

When you purchase a digital camera, what type of software often is included with the purchase?

• A)clip art management software
• B)paint editing software
• C)reference software
• D)photo editing software

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Definitions:

Perfect Substitutes

Goods that a consumer is completely indifferent between, meaning they will substitute one for another at a constant rate regardless of any change in price or utility.

Perfect Complements

Goods that are always used together in fixed proportions, where the utility or value of one item increases with use of the other.

Pareto Efficient

An allocation condition in resources where any attempt to favor one individual results in a disadvantage to another.

Pareto Optimal

A state of allocation of resources from which it is impossible to reallocate without making at least one individual or preference criterion worse off.