Products That Are Very Similar and Very Close Substitutes, but That

question 65

Multiple Choice

Products that are very similar and very close substitutes, but that may be of different quality or prices, are called:

• A) differentiated complements.
• B) differentiated substitutes.
• C) differentiated products.
• D) perfect substitute products.

---

Definitions:

Know Other People

The ability or act of understanding and recognizing the experiences and perspectives of others, often in the context of social interactions.

Rationalization

describes the process where traditional and spontaneous methods of social organization are replaced by efficiently administered formal rules and procedures.

Max Weber

A German sociologist, philosopher, and political economist known for his contributions to the theory and methodology of the social sciences.

Public and Political Matters

Issues and concerns that affect the community or society at large and involve governmental or political action.