Home Heating Gas Tends to Have _____ Demand Because _____

question 264

Multiple Choice

Home heating gas tends to have _____ demand because _____.

• A) elastic; it has few close substitutes
• B) elastic; people have lots of time to adjust their consumption patters
• C) inelastic; people spend a large share of their incomes on heat
• D) inelastic; it is a necessity

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Definitions:

Global Capitalism

An economic system characterized by global markets, multinational corporations, and the dominance of capitalist economics on a worldwide scale.

Racial Inequality

The unequal treatment or perception of individuals based on their race, leading to disparities in income, education, employment, health, and political representation.

Multidimensional Poverty Index

Measure of poverty that accounts for health, education, and the standard of living.

Developing Countries

Nations with a lower living standard, undeveloped industrial base, and low Human Development Index relative to other countries.