If a Consumer Is Spending a Large Portion of His

question 146

True/False

If a consumer is spending a large portion of his or her income on a good, then the demand for the good is inelastic.

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Definitions:

Attitude Adjustment

The process of changing or modifying one’s attitudes or outlooks, often to become more positive or adaptive.

Emotional Regulation

The process of managing and responding to one's emotions in a healthy and adaptive way.

Stress

A condition where there's mental or emotional pressure due to challenging or negative situations.

Beneficial

Producing good or helpful results; advantageous.