If the Market for a Product Is Broadly Defined, Then

question 54

Multiple Choice

If the market for a product is broadly defined, then

• A)the good has many complements.
• B)there are few substitutes for the product and the demand for the product is relatively inelastic.
• C)there are many substitutes for the product and the demand for the product is relatively elastic.
• D)the expenditure on the good is likely to make up a large share of one's budget.

---

Definitions:

GABA

Gamma-aminobutyric acid, a neurotransmitter in the brain that plays a key role in regulating nerve excitability and muscle tone.

Sensory Neurons

Nerve cells that transmit sensory information (sight, sound, feeling, etc.) from the body's receptors to the central nervous system.

Afferent

Referring to neurons or pathways that carry sensory information toward the central nervous system.

Efferent

Relating to nerve fibers that carry impulses away from the central nervous system to effectors such as muscles or glands.