Which of the Following Is Not a Determinant of the Price

question 16

Multiple Choice

Which of the following is not a determinant of the price elasticity of demand?

• A)The number of substitute goods available.
• B)The share of a consumer's budget.
• C)The amount of income the consumer has.
• D)The time frame-whether it is in the short run or long run.

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Definitions:

Foreign Aid

Financial or other forms of help given from one country to another for humanitarian or development purposes.

Free Trade

An economic policy that allows imports and exports between countries with minimal governmental restrictions or tariffs.

Foreign Competition

The presence of competing products or services from other countries in a domestic market.

Domestic Producers

Individuals or entities within a country that produce goods or services.