If Demand Changes Considerably,we Say That the Demand Is ________

question 68

Multiple Choice

If demand changes considerably,we say that the demand is ________.

• A) equal
• B) elastic
• C) inelastic
• D) marginal
• E) none of the above

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Definitions:

Induction

The process or ceremony of formally introducing someone to a new position, role, or environment.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification.

Generalization

A broad statement or an idea that applies to a group of items or people, based on common qualities.

Inductive Reasoning

A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.