Which of the Following Is an Example of the Threat

question 19

Multiple Choice

Which of the following is an example of the threat of substitute products and services?

• A)Self-administered dental examinations for dentist examinations.
• B)Outpatient surgery for inpatient surgery.
• C)Adults being treated in pediatric specialty hospitals.
• D)Massage therapy substituted for acupuncture.

---

Definitions:

Inelastic

Characterizes a situation where the demand for a product is not significantly affected by changes in price.

Elastic

Describes a situation in economics where the demand for a product or service significantly changes in response to a change in price.

Inelastic

A characteristic of goods or services for which demand does not significantly change with a change in price.

Price Range

The difference between the lowest and highest prices within a given market.