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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What happens to the demand for normal goods when income increases?
💡 Hint: Think about what happens to your choices when you have more money.
Question 2
Easy
Define inferior goods.
💡 Hint: Consider which cheap alternatives people abandon when they have more money.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What happens to the demand curve for normal goods as consumer income rises?
- Shifts left
- Shifts right
- Remains unchanged
💡 Hint: Consider how you would spend more money on your favorite products.
Question 2
True or False: An increase in the price of a substitute decreases its demand.
- True
- False
💡 Hint: Think about how you might react if your favorite snack’s price goes up.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Suppose a consumer's income rises significantly. Evaluate the potential shifts in demand for both luxury and inferior goods.
💡 Hint: Consider how people react to increased wealth when choosing items.
Question 2
Analyze the impact of a trending health report linking fries to health risks. Predict how this will affect the demand curve for fries.
💡 Hint: Think of similar past occurrences in food trends.
Challenge and get performance evaluation