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Social StudiesSocial Studies
24 July, 03:03

Damon is using his weekly allowance to spend on video games and movies. This week, on top of his allowance, he gets a bonus from his mother for taking out the trash. In response, he spends more on video games and movies. In this example, we can conclude that movies are what type of good

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  1. 24 July, 03:14
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    Movies are 'good' good.

    Explanation:

    'Good' is a good as per micro economic concept : which is desirable, liked by the consumer & command a price for being consumed.

    Example : Damon likes watching movies, pays for it from his weekly allowance spending. So, movies are a 'good' for Damon.

    'Bad' is a good as per micro economic concept : which is undesirable, not liked by consumer & command a price for being eliminated.

    Example : Damon's mother doesn't like Trash. He pays Damon extra bonus weekly allowance, for getting trash removed. So, trash is a 'bad'
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