Asked by
Ulkar Alaskarova
on Oct 26, 2024Verified
If Benjamin considers sushi to be a normal good and if his income increases by 20%,his purchases of sushi will:
A) decrease by 20%.
B) increase.
C) decrease.
D) not change.
Normal Good
A good for which demand increases as the income of the individual or economy increases, and decreases when the income decreases.
Income Increases
Refers to the rise in the monetary earnings of individuals or entities over a period.
Sushi
A traditional Japanese dish made of vinegared rice, often accompanied by various ingredients such as seafood, vegetables, and occasionally tropical fruits.
- Comprehend the implications of changes in factors affecting demand, such as income levels and prices of related goods.
Verified Answer
HS
Learning Objectives
- Comprehend the implications of changes in factors affecting demand, such as income levels and prices of related goods.