Consider the Price Elasticity of Demand

question 46

True/False

Consider the price elasticity of demand. If a product has price elasticity less than one, it is considered to have relatively elastic demand.

---

Definitions:

External Audience

Individuals or groups outside of an organization who are potential or actual recipients of communication from that organization.

Corporate Accountant

A professional responsible for managing and reporting a company’s financial information, including tax obligations, budgeting, and financial analysis.

Vice-President

A high-ranking executive in a company or organization, typically below the president, responsible for specific duties and departments.

Stockholders

Individuals or entities that own shares in a corporation, thus having a stake in the company's assets and earnings.