Which of the Following Is NOT a Factor in Determining

question 66

Multiple Choice

Which of the following is NOT a factor in determining the price elasticity of demand?

• A) the number of available substitutes
• B) time
• C) the proportion of the budget spent on the item
• D) the slope of the supply curve

---

Definitions:

Bias

A tendency to lean in a certain direction, either in favor of or against a particular thing, person, or group compared with another, often in a way considered to be unfair.

Journalizing

The process of recording a transaction entry into the journal.

Business Transactions

Financial activities or exchanges involving the transfer of value between entities or parties, affecting the financial position of a business.

Journal

A listing of business transactions in chronological order. The journal links on one page the debit and credit parts of transactions. Alternatively known as general journal.