Contingent Goods Quiz
3 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which factor determines the demand for a contingent good?

  • The demand for a related good (correct)
  • The cost of production
  • The advertising strategy
  • The government regulations

    • What is a contingent good?

  • A good that is always in high demand
  • A good that is only available during certain seasons
  • A good whose demand is dependent on the demand for another good (correct)
  • A good that is produced in limited quantities

    • What is an example of a contingent good?

  • Toothpaste
  • Salt
  • Umbrellas
  • Hot dog buns (contingent on hot dogs) (correct)

    • More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser