A Good Will Have a More Inelastic Demand, the

question 71

Multiple Choice

A good will have a more inelastic demand, the

• A)greater the availability of close substitutes.
• B)broader the definition of the market.
• C)longer the period of time.
• D)more it is regarded as a luxury.

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Definitions:

Endorse

To give support or approval to something or someone, often by writing a signature on a document to authorize its validity or transfer.

Check

A special draft that orders a bank (the drawee) to pay a specified sum of money to the payee from the drawer’s account.

Unqualified

Without any conditions, limitations, or reservations; often referring to an endorsement or opinion that has no restrictions.

Blank Endorsement

An endorsement on a financial instrument with only the signature of the endorser, making it payable to whoever holds the document.