Other Things Constant, If the Demand for a Final Product

question 77

Multiple Choice

Other things constant, if the demand for a final product is quite elastic, the demand for a resource used to produce the product will tend to be

• A) highly inelastic.
• B) of unitary elasticity.
• C) a curve sloping upward to the right.
• D) quite elastic as well.

---

Definitions:

British Regulating Trade

The set of policies and laws implemented by Britain to control trade within its empire, including the colonies.

Language of Freedom

The use of rhetoric, symbols, and phrases that evoke concepts of liberty and emancipation, often utilized in political and social movements.

Colonial History

Refers to the period of history involving the discovery, colonization, and establishment of control by European powers over regions in the Americas, Africa, and Asia from the late 15th century to the early 20th century.

Goals

Objectives or desired outcomes that an individual or group aims to achieve through concerted efforts.