Table: Elasticity Characteristics The Table Lists the Characteristics of Three Goods

question 81

Multiple Choice

Table: Elasticity Characteristics $$\begin{array} { l l l } \hline \text { Good X } & \text { Good Y } & \text { Good Z } \\\hline \text { Few Substitutes } & \text { Many Substitutes } & \text { Few Substitutes } \\\text { Luxury good } & \text { Luxury good } & \text { Necessary good } \\\text { Small part of budget } & \text { Large part of budget } & \text { Small part of budget } \\\hline\end{array}$$ The table lists the characteristics of three goods. Good ________ is the most inelastic, and Good ________ is the most elastic.

• A) X; Y
• B) Z; Y
• C) X; Z
• D) Y; X

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Definitions:

Reflexes

Involuntary and almost instantaneous movements in response to stimuli.

Proprium

A term used in psychology to refer to the aspects of a person's self or identity that are considered central to their sense of self.

Infancy

The stage of human development that spans from birth to the age of two, characterized by rapid physical and cognitive growth.

Middle Age

A period of human adulthood that typically ranges from about 45 to 65 years of age, often characterized by increased self-awareness, stability, and responsibility.