If Demand Hardly Changes with a Small Change in Price

question 113

Multiple Choice

If demand hardly changes with a small change in price, the demand is said to be ________.

• A) strained
• B) marginal
• C) inelastic
• D) flexible
• E) unit elastic

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Definitions:

Secretary

A person employed to handle administrative and office tasks, such as scheduling meetings, managing communications, and maintaining records.

Telephone

A communication device that allows users to conduct voice conversations across distances by converting sound into electronic signals.

Prospect

A potential customer or client who has been identified as fitting the target market of a business.

Networking

The activity of connecting with people for the purpose of exchanging information and growing professional or social relationships.