Day: November 24, 2020

Alex’s well-being not only depends on the amounts of goods and services he himself consumes but is also directly affected by the amount of good Y consumed by Lucy.

What does this illustrate?

Select ONE answer:

1. an externality
2. cross-elasticity of demand
3. joint demand
4. substitute goods

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

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