A Situation in Which Consumer Response Is Sensitive to Changes

question 57

Multiple Choice

A situation in which consumer response is sensitive to changes in price exhibits ______ demand.

• A) elastic
• B) inelastic
• C) stagnant
• D) fluctuating

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Definitions:

Stereotype Threat

A psychological phenomenon where individuals fear they will be judged or treated based on negative stereotypes about their group, which can hinder their performance.

Anxiety

a feeling of worry, nervousness, or unease about something with an uncertain outcome, often characterized by physical symptoms.

Stereotype Threat

The risk of confirming negative stereotypes about one's social group, which can impair performance in areas related to those stereotypes.

Prejudiced

Having preconceived opinions that are not based on reason or actual experience.