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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are substitute goods?
💡 Hint: Think of goods that serve a similar purpose.
Question 2
Easy
Give an example of complementary goods.
💡 Hint: Consider items that are often used together.
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 for tea if the price of coffee increases?
- It increases
- It decreases
- No change
💡 Hint: Think about consumer choices when prices rise.
Question 2
True or False: Complementary goods have a demand that moves in the same direction as price changes.
- True
- False
💡 Hint: Recall the definition of complementary goods.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Considering the market for shoes and socks, analyze how an increase in sock prices might affect shoe sales.
💡 Hint: Think about how these items are used together.
Question 2
Evaluate the impact of a promotional discount on tea prices on coffee sales.
💡 Hint: Consider the behavior of price-sensitive consumers.
Challenge and get performance evaluation