Which of the Following Is Not a Characteristic of a Product

question 35

Multiple Choice

Which of the following is not a characteristic of a product whose demand is inelastic?

• A) There are very few substitutes for the product.
• B) The amount spent on the product is a relatively small percentage of one's income.
• C) There is a long time period under consideration.
• D) The product is considered a necessity.
• E) There are a small number of competitors from which to purchase the product.

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Definitions:

Board of Directors

A group of individuals elected by shareholders to oversee the management and make strategic decisions for a corporation.

Shareholder Rights

The entitlements granted to shareholders of a corporation, including the right to vote on corporate matters, receive dividends, and share in the assets upon dissolution.

Proposed Merger

A plan or offer to combine two or more companies into one entity, subject to approval by regulators and shareholders.

Common Shareholder

An individual or entity that owns shares in a company, granting them ownership equity and usually voting rights.