What Is Price Elasticity

question 10

Multiple Choice

What is price elasticity?

• A) When a range of prices is set for one product
• B) When customers are insensitive to how high or low a selling price is set
• C) When customers are sensitive to how high or low a selling price is set
• D) When products have strong branding

---

Definitions:

General Fund

The primary operating fund of a governmental entity used to account for all financial resources except those required to be accounted for in another fund.

Restricted Contribution

Funds given to an entity with specific conditions or purposes attached, limiting their use.

Endowment Contributions

Financial gifts provided to an institution, typically with the stipulation that the principal remains intact while the investment income is used for organizational purposes.

Restricted Fund

Funds that are earmarked for a particular purpose or project by donors or grantors and cannot be freely used for any other expenditures.