Substitutes can be different products or services as long as they satisfy the same want.
Correct Answer:
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Q3: A Sociology class is a substitute for
Q4: Your preferences can be affected by advertising.
Q5: If you buy a product or service
Q6: Sam will drink anything that is cold,
Q7: Substitutes must
A) have the same price.
B) satisfy
Q9: Substitutes need to be exactly the same
Q10: What you can afford is limited by
A)
Q11: Your demand for tickets to the Lady
Q12: Your preferences measure
A) the availability of alternatives.
B)
Q13: Your preferences are determined only by your
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