If Demand Hardly Changes with a Small Change in Price

question 130

Multiple Choice

If demand hardly changes with a small change in price, the demand is ________.

• A) variable
• B) inelastic
• C) highly elastic
• D) derived
• E) negative

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Definitions:

Delinquency

Behavior, particularly of a young person, that is illegal or not approved of by society.

Preconventional Morality

The first level of Kohlberg's stages of moral development, where moral reasoning is based on external consequences or rewards.

Stealing

The act of taking someone else's property without permission or legal right and with the intent to deprive the rightful owner of it permanently.

Spank

A form of physical discipline involving striking the buttocks, typically with an open hand to correct or control behavior.