If the Demand for a Good Is Relatively Inelastic, This

question 283

Multiple Choice

If the demand for a good is relatively inelastic, this means that consumer purchases of the good are

• A) not very sensitive to the price of the good.
• B) highly sensitive to the price of the good.
• C) unrelated to the price of the good.
• D) unaffected by changes in the income level of consumers.

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Definitions:

Discrimination

The unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.

Cognitive Processes

Mental actions or operations that include thinking, reasoning, problem-solving, decision-making, and memory.

Associative Learning

A learning process where a relationship is formed between two stimuli or between a stimulus and a behavior.

Negative Reinforcement

A method in behavioral psychology that increases the likelihood of a behavior by removing an unpleasant stimulus when the behavior occurs.