Which of the Following Is a Characteristic of an Item

question 46

Multiple Choice

Which of the following is a characteristic of an item that has price-elastic demand?

• A) A small number of competitors
• B) Many substitutes
• C) A short time period under consideration
• D) A product that accounts for a small percentage of consumers' incomes
• E) A necessity for survival

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Definitions:

Dispositional Explanation

An attribution that ascribes behavior to innate qualities of the individual, such as personality traits or temperaments, rather than to external circumstances.

Situational Explanation

The interpretation of behavior or events based on the context or circumstances in which they occur, rather than attributing them to personal traits.

Situational Explanation

An explanation that attributes behavior to external factors, circumstances, or situations rather than to individual characteristics.

Dispositional Explanation

An attribution that attributes someone's behavior to their inherent qualities, characteristics, or personality, rather than external situations.