All of the Following Are Characteristics of Elastic Demand Except

question 77

Essay

All of the following are characteristics of elastic demand except:
A.short periods of adjustment.
B.a large number of substitutes.
C.goods with elastic demand that are nonessential goods such as take-out food.
D.goods with elastic demand that are specific brands of goods.

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Definitions:

Specific Assets

Assets identified and designated for a particular purpose or project, often distinguished from general or unspecified assets.

Bond Indenture

A legal contract between a bond issuer and bondholders, detailing the terms of the bond such as the interest rate, maturity date, and obligations of both parties.

Investment Company

A corporation or trust engaged in the business of investing the pooled capital of investors in financial securities.

Bond Certificate

A legal document that indicates the name of the issuer, the face value of the bonds, the contractual interest rate, and maturity date of the bonds.