Which of the Following Happens If Demand Is Elastic

question 14

Multiple Choice

Which of the following happens if demand is elastic?

• A) As price goes up,consumer demand changes.
• B) The competition between organizations reduces.
• C) Products will not have any substitutes.
• D) The purchasing power of the consumer decreases.

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Definitions:

Second-Generation Pesticides

Pesticides developed to overcome resistance or environmental concerns associated with first-generation pesticides, often designed to be more targeted or biodegradable.

Spiders

Arachnids characterized by eight legs, typically spinning webs to capture prey, and playing a significant role in controlling insect populations.

Spruce Budworm

A destructive North American caterpillar that infests conifer forests, notably spruce and fir trees, causing significant damage to these ecosystems during outbreak periods.

Pheromones

Substances created and emitted by an animal into its surroundings that influence the behavior or bodily functions of other members of the same species.