The Demand for a Good Is Elastic

question 97

Multiple Choice

The demand for a good is elastic. Which of the following would be the most likely explanation for this?

• A) The good is a necessity.
• B) The good is broadly defined.
• C) The good costs a small portion of one's total income.
• D) The time interval considered is long.

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Definitions:

Care Plan

A document that outlines the individualized care to be provided to a patient to meet their specific health needs.

Fluid

Any substance that can flow and take the shape of the container that holds it, including liquids, gases, and plasmas.

Outcome Statement

A clear, measurable statement describing the expected result of a treatment, intervention, or service in healthcare.

Incentive Spirometer

A medical device used to help patients improve the functioning of their lungs through guided deep breathing exercises.