A Necessity (Such as Food and Shelter) Generally Has an Inelastic

question 386

True/False

A necessity (such as food and shelter) generally has an inelastic demand.

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Definitions:

Vertical Systems

Organizational structures that emphasize hierarchical levels of authority and communication, typically with clear lines of command and control from top to bottom.

Planned Obsolescence

A strategy where products are deliberately designed to have a limited useful life, so they will become obsolete or non-functional after a certain period.

Internet Privacy Controls

Tools and settings that allow users to manage their personal information and protect their privacy online.

Europe

A continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere, known for its rich history, diverse cultures, and significant impact on global affairs.