An Example of a __________ Might Be Nintendo's Wii Video

question 110

Multiple Choice

An example of a __________ might be Nintendo's Wii video game system.

• A)problem child
• B)star
• C)cash cow
• D)dog
• E)question mark

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Definitions:

Perfectly Elastic

Describes a situation where the quantity demanded or supplied responds infinitely or extremely to changes in price.

Highly Inelastic

Describes demand that is hardly responsive to changes in price, typically for necessities where consumption does not decrease significantly with a price increase.

Total Profit

The overall financial gain made by a business after subtracting all expenses from total revenue.

Graph

A diagram representing a system of connections or interrelations among two or more things by a number of distinctive dots, lines, bars, etc.