Which of the Following Would Cause a Demand Curve for a Good

question 36

Multiple Choice

Which of the following would cause a demand curve for a good to be price inelastic?

• A) The good is a luxury.
• B) There are a great number of substitutes for the good.
• C) The good is a necessity.
• D) The good is an inferior good.

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Definitions:

Identity Status

A concept in psychology that categorizes the process of identity development in adolescents into different statuses based on their exploration and commitment to values, beliefs, and goals.

Mark

A symbol, sign, or indication of something; in an academic context, it often refers to a grade or score.

Identity Diffusion

Identity status, described by Marcia, that is characterized by absence of commitment and lack of serious consideration of alternatives.

Adolescents

Individuals in the transitional stage of development between childhood and adulthood, typically between the ages of 13 and 19.