A Demand Curve That Is Horizontal Indicates That the Commodity

question 285

Multiple Choice

A demand curve that is horizontal indicates that the commodity

• A)has few substitutes.
• B)must be very cheap.
• C)is a necessity.
• D)has a large number of substitutes.

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Definitions:

Qualified Indorsement

An endorsement on a negotiable instrument that limits the liability of the endorser or specifies particular conditions for the endorsement's validity.

Liability

A legal responsibility or obligation, often involving financial compensation, that arises from actions or agreements.

Payable to Cash

A term indicating that a check or draft is to be paid to the bearer or holder, making it easily transferable.

Negotiated

Refers to the process where parties discuss terms and come to a mutual agreement.