Generally Speaking,demand for a Good Will Be More Inelastic

question 105

Multiple Choice

Generally speaking,demand for a good will be more inelastic

• A) if few substitutes exist.
• B) when the good represents a large share of the consumer's budget.
• C) in the long run.
• D) when many substitutes exist.
• E) if the good is a necessity.

---

Definitions:

Unknown Person

An individual whose identity is not known or cannot be immediately recognized.

Infant

A term for a very young child or baby, typically from birth to one year of age, marked by rapid physical growth and development of motor and cognitive skills.

Attachment Behavior

Actions by an individual that seek closeness and comfort from their attachment figure, especially during stress or threat.

Chronic Early Stress

Prolonged exposure to stressful conditions or events during the early stages of life, potentially leading to long-term psychological and physical health issues.