Which Goods Have More Elastic Demands

question 290

Multiple Choice

Which goods have more elastic demands?

• A) goods with many substitutes
• B) goods which are necessities
• C) goods with few substitutes
• D) goods whose purchase represents a small percentage of income

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Definitions:

Advanced System

Refers to technologically sophisticated or complex systems that incorporate the latest advancements in their field or operation.

Communication Plan

A strategic document that outlines an organization's approach to conveying information to its target audiences, including the tools, channels, and timelines for communication.

Frontline Managers

Supervisors or lower-level managers who are directly responsible for overseeing the work of rank-and-file employees.

Ongoing Process

A continuous, unending procedure or activity that often requires regular monitoring and updating.