If Demand Hardly Changes with a Small Change in Price

question 130

Multiple Choice

If demand hardly changes with a small change in price, the demand is ________.

• A) variable
• B) inelastic
• C) highly elastic
• D) derived
• E) negative

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Definitions:

Negligent Misconduct

Behavior or actions that fall below the legally established standard of care, leading to unintended harm or damage.

Self-Governing

Having the authority or autonomy to govern oneself or manage one's own affairs without external control.

Professional Bodies

Organizations representing the interests of professionals in a specific industry, responsible for setting standards, providing training, and enforcing ethics.

Role

Describes the function or part played by a person or thing in a particular situation or system, such as in an organization or process.