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Which of the Following Terms Is Used to Describe Any

question 190

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Which of the following terms is used to describe any substance, such as a drug, chemical, or virus, that can bring about a birth defect?


Definitions:

Price Elastic

Relating to the responsiveness of the demand or supply of a good or service to changes in its price.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level.

Inelastic

A description of a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.

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