The Demand for a Necessity Whose Cost Is a Small

question 179

Multiple Choice

The demand for a necessity whose cost is a small portion of one's total income is

• A)perfectly price inelastic.
• B)perfectly price elastic.
• C)relatively price inelastic.
• D)relatively price elastic.

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Definitions:

Nuclear Family

A household composed of two parents and their offspring, cohabiting as one family unit.

Household

A social unit consisting of those living together in the same dwelling, often encompassing members of a family or a group of people sharing living quarters and responsibilities.

Exploitative Child Labor

The employment of children in a manner that is morally, socially, or legally unacceptable, often because it is excessively demanding, hazardous, or interferes with their education.

Foraging Society

A type of society that relies on hunting, fishing, and gathering wild plants and animals for food rather than domesticating species.