If Demand Changes Greatly with a Small Change in Price

question 96

Short Answer

If demand changes greatly with a small change in price, we say the demand is ________.
inelastic
variable
elastic
value-based
fixed

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Definitions:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification and diagnostic tool for mental disorders used by healthcare professionals.

Altruistic Suicide

A concept by sociologist Émile Durkheim, describing a type of suicide that occurs when individuals sacrifice their life for the perceived benefit of the community.

Clinical Depression

A medical condition characterized by persistent feelings of sadness, hopelessness, and a lack of interest in activities, significantly affecting daily life.

Low Self-Esteem

A condition characterized by a lack of confidence and feeling unworthy of love or respect from others.