If a Good Is a Necessity,it Has ________ Substitutes and Its

question 76

Multiple Choice

If a good is a necessity,it has ________ substitutes and its demand is ________.

• A) poor; elastic
• B) poor; inelastic
• C) many; elastic
• D) many; inelastic
• E) many; precisely unit elastic

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Definitions:

Interdependence

The mutual reliance between two or more groups or individuals, where the actions of one significantly affect the other(s), often requiring coordination and cooperation.

Cohesion

The force or process that unites members of a group, leading to a feeling of solidarity and unity.

Productivity

The measure of efficiency in which goods or services are produced, often evaluated in terms of output over a given period.

Aronson And Mills

Refers to researchers who developed the theory of cognitive dissonance through experiments that demonstrated how effort can influence attitude change.