The More Substitutes There Are for a Product

question 3

Multiple Choice

The more substitutes there are for a product,

• A) the less price elastic the demand for the product is.
• B) the more price elastic the demand for the product is.
• C) the greater the income elasticity for the product.
• D) the smaller the income elasticity for the product.

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Definitions:

Synaptic Cleft

The tiny gap between two neurons, across which neurotransmitters travel to transmit nerve impulses.

Voltage-Gated Channel

A type of ion channel that opens or closes in response to changes in the electrical potential across a cell membrane.

Synaptic Vesicle

Synaptic vesicles are small sacs found in neurons that store various neurotransmitters released at the synapse during neurotransmission.

Presynaptic Terminal

The end of a nerve fiber that releases neurotransmitters to send a signal across a synapse to another nerve, muscle cell, or gland.