Which of the Following Is Likely to Have the Most

question 129

Multiple Choice

Which of the following is likely to have the most price elastic demand?

• A)dental floss
• B)milk
• C)salt
• D)diamond earrings

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Definitions:

Product Development

The process of bringing a new product or service to the market, from ideation and design through to production and launch, involving research and testing to meet consumer needs.

Triggering Event

A specific occurrence or situation that initiates a predetermined action or series of actions within a business or project context.

Start-Up Process Model

A framework outlining the step-by-step progression needed to establish a new business, from idea conception to market entry.

Environmental Factors

Forces that occur outside of the business that affect the business and its owner.