Two Goods Are Considered Substitutes Only If A(n)

question 22

Multiple Choice

Two goods are considered substitutes only if a(n)

• A)decrease in the demand for one leads to a decrease in the supply of the other
• B)increase in the demand for one leads to a decrease in the supply of the other
• C)increase in the price of one leads to an increase in the demand for the other
• D)decrease in the price of one leads to an increase in the demand for the other
• E)decrease in the supply of one leads producers to switch to production of the other

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Definitions:

Watson

John B. Watson, an American psychologist who founded the psychological school of behaviorism, emphasizing the importance of observable behaviors over internal processes.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, involving patterns of thought, feeling, and behavior.

Traits

are distinguishing qualities or characteristics of a person, often considered stable across time and situation.

Behavior

The actions or reactions of an individual or group in response to external or internal stimuli.