A Process of Converting a Neighborhood from Low-Income to Middle-Class

question 26

Multiple Choice

A process of converting a neighborhood from low-income to middle-class or upper-class is

• A) blockbusting.
• B) filtering.
• C) gentrification.
• D) redlining.
• E) zoning.

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Definitions:

Price Elasticity of Demand

An indicator showing the reaction of the demand for a product to alterations in its price.

Price Premium

The additional amount that a consumer is willing to pay for a product over its basic market price due to perceived higher quality, brand, or other distinguishing factors.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, expressed as a percentage change.

Coupon Program

A promotional tool used by businesses to offer discounts or special deals to customers, often to encourage purchases or trial of new products.