Which Social Science Would Be Interested in the Actions Taken

question 16

Multiple Choice

Which social science would be interested in the actions taken by elected officials both during and in the aftermath of the earthquake in Haiti?

• A) history
• B) economics
• C) sociology
• D) political science

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Definitions:

Elastic

Describes a situation where the quantity demanded or supplied of a good is sensitive to changes in price.

Short Run

A period in economics during which the quantity of at least one input (such as plant size) is fixed and cannot be changed.

Long Run

A period in economics sufficient for all markets to adjust to equilibrium, including the adjustment of all production factors and prices of inputs.

Cross-Price Elasticity

A measure of how the demand for one good changes in response to a change in the price of another good.