Which of the Following Statements Is Not True

question 189

Multiple Choice

Which of the following statements is not true?

• A) Price elasticity of demand for basic foods is low.
• B) When price elasticity of demand is very high, we say there is brand loyalty.
• C) The availability and price of substitutes affect the elasticity of demand for a good or service.
• D) When goods have very low prices, the elasticity of demand is usually quite low.
• E) Elasticities increase as the price of the good increases.

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Definitions:

Moral Principles

Fundamental beliefs regarding what is right and wrong, which guide behavior and decision-making.

Cognitive Abilities

The mental capacities to reason, plan, solve problems, think abstractly, comprehend complex ideas, learn quickly, and learn from experience.

Gender Differences

Refers to distinctions in characteristics, roles, or behaviors typically associated with being male or female in a society.

Conventional Thought

Thinking that is based on established norms and practices in society, often accepting societal standards without questioning.