A Computer Is Like a File Cabinet That Has Two

question 4

True/False

A computer is like a file cabinet that has two or more drawers.

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Definitions:

Elastic

Elasticity in economics refers to the responsiveness of demand or supply to changes in price or income.

Completely Inelastic

Describes a situation where the demand or supply for a good or service does not change in response to changes in price.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.

Elastic

Describes a situation in economics where the supply or demand for a good or service significantly changes in response to changes in price.