Why Do You Think Full-Service Gas Stations Have Largely Disappeared

question 180

Multiple Choice

Why do you think full-service gas stations have largely disappeared across the United States?

• A) because the government has issued a ban on such gas stations
• B) because of price controls on gasoline that were issued in 1973
• C) because consumers demanded that they should be allowed to pump gas themselves
• D) None of the answers are correct.

---

Definitions:

Perfectly Inelastic

A situation in demand where the quantity demanded does not change in response to a change in price; represented graphically as a completely vertical demand curve.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers at various prices.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing to sell.

Perfectly Inelastic Demand

A situation in which the demand for a product does not change as the price changes.