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- Subject
- Marketeconomics-mcqs › market
- Published
- 31 May 2019
- Last updated
- 28 May 2026
If a rise in the price of blue jeans causes the demand for tennis shoes to go up, what is the relationship between blue jeans and tennis shoes?
Multiple choice question for Market. Select an option, then review the explanation below.
Explanation
When an increase in the price of one product leads to a higher demand for another, the two goods are considered substitutes because consumers switch to the alternative product.
More Market MCQs
Practice related questions from the same subject.
- 1.Broadcasting firms use satellite TV subscriptions and signal detection tools primarily to combat which issue?
- 2.Which of the following is a classic example of a public good?
- 3.Which of the following factors can lead to market failure?
- 4.When a neighbor burns yard debris and smoke enters your home, what type of externality does this represent?
- 5.Why is a competitive equilibrium considered Pareto efficient?