An Increase in Demand Will Cause a Relatively Small Increase

question 71

Multiple Choice

An increase in demand will cause a relatively small increase in price when

• A) the increase in demand is large.
• B) demand is highly elastic.
• C) supply is highly inelastic.
• D) all of the above

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Definitions:

Biopsychosocial Model

An interdisciplinary model that looks at the interconnection between biology, psychology, and socio-environmental factors in understanding health and illness.

Diathesis-Stress Model

A psychological theory that explains behavior as a predispositional vulnerability together with stress from life experiences.

Medical Model

A framework for understanding diseases and disorders by focusing on biological factors and excluding psychological, environmental, and social influences.

Demonological Model

A belief system that ascribes physical and psychological phenomena to the actions of supernatural beings or forces, historically used to explain diseases or behaviors.