For Which One of the Following Is Demand Likely to Be

question 127

Multiple Choice

For which one of the following is demand likely to be most price inelastic?

• A)diamonds
• B)insulin for a diabetic
• C)potatoes
• D)gasoline
• E)books

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Definitions:

Negative Reinforcement

A behavioral psychology term describing the strengthening of a behavior because a negative condition is stopped or avoided.

Desirable Behavior

Actions or conduct considered beneficial or appropriate within a specific context, often encouraged through positive reinforcement.

Positive Consequence

A favorable result or outcome that occurs as a result of an action or decision.

Negative Consequence

An unfavorable result or effect that occurs as a result of an action or decision.