Demand Is Said to Be Inelastic If the

question 213

Multiple Choice

Demand is said to be inelastic if the

• A)quantity demanded changes proportionately more than price.
• B)price changes proportionately more than income.
• C)quantity demanded changes proportionately less than price.
• D)quantity demanded changes proportionately the same as price.

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Definitions:

Thought Processes

The mental operations involved in cognitive activities such as reasoning, perception, and judgment.

Intellectual

Pertaining to or involving the ability to think and understand ideas and information at a high level of complexity.

Assimilation

The cognitive process of integrating new information into existing cognitive schemas, perceptions, and understanding.

Adaptation

The process by which organisms adjust to changes in their environment to survive and reproduce.