If the Demand for a Good Is Relatively Inelastic, This

question 283

Multiple Choice

If the demand for a good is relatively inelastic, this means that consumer purchases of the good are

• A) not very sensitive to the price of the good.
• B) highly sensitive to the price of the good.
• C) unrelated to the price of the good.
• D) unaffected by changes in the income level of consumers.

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Definitions:

Parental Influences

The effects that parents have on their children’s development, behavior, beliefs, and personality through their actions, teachings, and relationship.

Personality

The combination of characteristics or qualities that form an individual's distinctive character and behavioral patterns.

Theorist

An individual who develops theories or a system of ideas intended to explain something.

Surrogate Mothers

Women who carry and deliver a child for another person or couple, often through an arrangement called surrogacy.