Asked by Tareq Hamad on May 09, 2024
Verified
Which two goods are most likely substitutes in consumption?
A) loaves of bread and sticks of butter
B) loaves of bread and toasters
C) loaves of bread and hamburger buns
D) loaves of bread and gasoline
Substitutes
Products or services that serve as alternatives to each other, such that when the price of one increases, the demand for its counterpart also rises.
Loaves of Bread
This is a quantifiable term for bread, indicating specific units of bread as a product commonly used for consumption.
Hamburger Buns
A type of bread specifically designed to hold a hamburger patty and its accompanying ingredients, serving as an essential component of a hamburger.
- Become aware of the distinctions between normal goods, inferior goods, substitute commodities, and complementaries.
Verified Answer
Learning Objectives
- Become aware of the distinctions between normal goods, inferior goods, substitute commodities, and complementaries.
Related questions
If the Price of Eggs Decreased,it Would Probably Result in ...
If Chicken and Beef Are Substitutes,then a Fall in the ...
Which Factor Will NOT Cause an Increase in Demand for ...
An Inferior Good Is One for Which A(n)_____ in Buyers ...
Assuming That Tablets Are Normal Goods,which Factor Will NOT Increase ...