Research Suggests That the Localized Extinction of Several Species of Land

question 24

Multiple Choice

Research suggests that the localized extinction of several species of land snails near Basal, Switzerland was due to

• A) genetic mutation.
• B) toxic water source.
• C) climatic warming.
• D) exotic predator.
• E) loss of habitat.

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Definitions:

Elastic Demand

A condition where the quantity demanded of a good or service is highly responsive to changes in its price.

Output Effect

The impact on total revenue when a firm changes its output level, considering demand elasticity.

Substitution Effect

The change in consumption patterns due to a relative change in prices leading consumers to substitute one product for another.

Derived Demand

The demand for a good or service that arises from the demand for another good or service; for example, the demand for steel is derived from the demand for cars.