Related to the Economics in Practice on page 65: Consumption of quinoa has been on the rise. A grain called teff has been referred to as quinoa's twin and is often consumed in place of quinoa. This would make teff and quinoa ________, and an increase in the price of quinoa should ________ the demand for teff, ceteris paribus.

Question

Quizplus · Accepted Answer

Teff and quinoa are considered substitutes, meaning they can be used in place of each other. If the price of quinoa increases, consumers may switch to teff as a cheaper alternative, increasing the demand for teff.

Related to the Economics in Practice on Page 65: Consumption