If You Were Planning to Build a House on Permafrost,which

question 25

Multiple Choice

If you were planning to build a house on permafrost,which of the following precautions would be prudent?

• A) Dig a deep foundation into the permafrost.
• B) Construct a basement.
• C) Build directly on the ground and insulate your floor well.
• D) Elevate your house above the ground.
• E) Excavate to bedrock, even if it's tens of metres down.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, with higher elasticity indicating greater responsiveness.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices over a given period of time.

Perfectly Elastic

A market condition where demand or supply responds infinitely at a particular price level and zero elsewhere.

Elastic

Describes a situation where the demand for a good or service significantly changes in response to price changes, indicating sensitivity to price.