Otto Von Bismarck Belonged to Which Class

question 13

Multiple Choice

Otto von Bismarck belonged to which class?

• A)the working class
• B)the industrial middle class
• C)the Junker class
• D)the gentry
• E)the lower middle class

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Definitions:

Inelastic

Pertains to a scenario where the need for a product or service shows little reaction to fluctuations in its price.

Per Unit Price

The cost associated with a single unit of a product, illustrating the price at which one unit of the product can be purchased.

Elasticity Coefficient

A numerical measure of the responsiveness of the quantity demanded or supplied to a change in one of its determinants.

Linear Demand Curve

A graphical representation showing a straight-line relationship between the price of a good and the quantity demanded.