If the Quantity of a Good Supplied Is Not Very

question 29

Multiple Choice

If the quantity of a good supplied is not very sensitive to the price of the good, economists say the supply of the good is relatively

• A) inelastic.
• B) elastic.
• C) robust.
• D) inverse.

---

Definitions:

Sales Orientation

A company objective based on the belief that increasing sales will help the firm more than will increasing profits.

Purchase Decisions

The process of evaluating and choosing between products or services to fulfill a need or desire, influenced by factors like price, quality, brand loyalty, and advertising.

Important Factors

Important factors refer to the critical elements or aspects that significantly influence the outcome or success of a situation, project, or analysis.

Target Return

The desired profit or yield that an investor aims to achieve on an investment over a specific period.