If a Good Is a Necessity,it Has ________ Substitutes and Its

question 76

Multiple Choice

If a good is a necessity,it has ________ substitutes and its demand is ________.

• A) poor; elastic
• B) poor; inelastic
• C) many; elastic
• D) many; inelastic
• E) many; precisely unit elastic

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Definitions:

Administrative Agencies

Government bodies responsible for implementing, overseeing, and enforcing laws and regulations within specific areas of government responsibility.

Independent Agencies

Government bodies that operate independently from the executive branch, typically to oversee and regulate specific activities.

Executive Agencies

Parts of the government responsible for the daily administration, regulation, and enforcement of federal laws, under the direction of the President or executive branch.

Semantics

The branch of linguistics concerned with the study of meaning in language.