Examlex

Solved

Thirst, Sexual Desire, and Hunger Are Examples of __________ Drives

question 166

Multiple Choice

Thirst, sexual desire, and hunger are examples of __________ drives.


Definitions:

Price Elasticity of Demand

The rate at which demand for a product responds to its price being altered.

Short Run

The period in economic theory during which at least one factor of production is considered fixed.

Long Run

A period in which all factors of production can be varied, and no inputs are fixed.

Demand Inelasticity

A situation where the demand for a product does not change significantly with a change in its price.

Related Questions