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Demand & Its Determinants · Question 43 of 66

Question 43

MediumOriginal question

Train fares are cut. Other things the same, the demand for bus travel between the same cities

Options for question 43

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. Train and bus travel are substitutes: cheaper trains draw travellers away from buses.

Concept
Substitute's price fall
Typical time
70 s
Your time
—
The rule this testsSubstitutes, complements, normal and inferior goods
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