Futurists Can Help Us Reflect and Think About

question 34

Multiple Choice

Futurists can help us reflect and think about:

• A) what our futures will be with 100% certainty.
• B) the implications of possible future changes.
• C) the lack of importance of all past history.
• D) how the present is unimportant.

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Definitions:

Demand Increase

A situation where the quantity of a product or service that consumers are willing and able to buy at a given price rises.

Price Elasticity

The sensitivity measure of demand for a good relative to its price changes.

Demand Curve

It illustrates the relationship between the price of a good or service and the quantity demanded for a given period, assuming all other factors are constant (ceteris paribus).

Midpoint Method

A technique used in economics to calculate the elasticity of a variable, which averages the starting and ending values to minimize the bias in the elasticities calculated at different points.