The Demand for a Product Is Likely to Be More

question 71

Multiple Choice

The demand for a product is likely to be more elastic

• A) the shorter the time the consumer has to adjust to price changes.
• B) the lower the price of the good.
• C) the fewer the number of good substitutes.
• D) the less the essential nature of the good.

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Definitions:

Pretend Play

Imaginative play where children create scenarios and assume roles, aiding in their cognitive and social development.

Dolls

Small, modeled figures representing humans or animals, used as toys for children or as collectibles for adults.

Stuffed Animals

Soft toys typically made from cloth and filled with a soft material, designed to resemble animals and often used as comfort objects by children.

Infants

Young children from birth to one year of age, an early stage of development focusing on rapid growth and learning.