Which of the Following Web Sites Can You Consult to Obtain

question 22

Multiple Choice

Which of the following web sites can you consult to obtain information about an application for an Employer Identification Number?

• A) "http://www.irs.gov/publications"
• B) "http://www.ada.org"
• C) "http://www.gov.org"

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Definitions:

Inelastic

A characteristic of demand when consumers' purchase quantities are not significantly affected by changes in the price of a good or service.

Good Substitutes

Products or services that can be used in place of one another, satisfying the same needs or wants of the consumer.

Elastic

Describes demand or supply that is highly sensitive to changes in price; a small change in price leads to a large change in the quantity demanded or supplied.

Perfectly Inelastic

Describing a situation where demand or supply does not change in response to changes in price.