Which of the Following Would Tend to Make Demand INELASTIC

question 28

Multiple Choice

Which of the following would tend to make demand INELASTIC?

• A) the amount of time analyzed is quite long
• B) there are lots of substitutes available
• C) the product is highly durable
• D) the proportion of the budget spent on the item is very small
• E) no one really wants the product at all

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Definitions:

Analyze Reasons

The process of examining the causes or motives behind certain actions or events.

Alike

Similar or comparable in nature, characteristics, or appearance.

Ralph Waldo Emerson

A 19th-century American essayist, lecturer, philosopher, and poet who led the transcendentalist movement.

Self-Reliance

Self-Reliance refers to the ability to depend on oneself to fulfill one's needs and handle one's affairs independently.