Products for Which Customers Are Not Sensitive to Price Changes

question 109

Multiple Choice

Products for which customers are not sensitive to price changes are said to be

• A) Price elastic
• B) Price inelastic
• C) Price volatile
• D) Price subjective

---

Definitions:

Constitution

The fundamental set of principles and established precedents according to which a state or other organization is governed.

Fourteenth Amendment

An amendment to the U.S. Constitution, ratified in 1868, granting citizenship to all persons born or naturalized in the United States and guaranteeing all citizens “equal protection of the laws.”

Bill of Rights

The first ten amendments to the U.S. Constitution, guaranteeing fundamental rights and freedoms to American citizens.

Supreme Court

The highest federal court in the United States, noted for its power of judicial review to interpret the Constitution.