If Consumers Can Easily Find Close Substitutes for a Good

question 55

True/False

If consumers can easily find close substitutes for a good or service, the product's demand tends to be inelastic.

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Definitions:

Pathological Traits

Characteristics or behaviors that are extreme, maladaptive, and indicative of some form of mental disorder or psychological dysfunction.

Self-Identity

An individual's recognition of their personal characteristics, values, and beliefs that define who they are.

Interpersonal Functioning

An individual's capacity to interact effectively with others, including communication skills, empathy, and relationship-building abilities.

Personality Disorder

A Personality Disorder is a type of mental disorder characterized by a rigid and unhealthy pattern of thinking, functioning, and behaving.