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Kelsea Villalpando
on Nov 04, 2024

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Demand for one item goes down when the price of another item goes up. These items must be

A) substitutes.
B) complements.
C) normal goods.
D) inferior goods.

Normal Goods

Goods for which demand increases as the income of the consumer increases, and vice versa.

Substitutes

Products or services that can be used in place of each other, having the ability to satisfy similar consumer needs or preferences.

  • Segregate between regular goods, flawed goods, and comparable substitutes.
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JM
Jenna ManlapazNov 09, 2024
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