The Price Elasticity of Demand Refers To

question 35

Multiple Choice

The price elasticity of demand refers to:

• A) a measure of the demand for the industry in which a firm competes
• B) how much the demand for a good or service changes when there is an increase in incomes
• C) the economic principle that as price increases the quantity demanded decreases
• D) the fact that the demand for some goods and services may be countercyclical
• E) how much the quantity demanded changes when there is a change in the price of a good or service

---

Definitions:

Pelvic Girdle

The pelvic girdle is the bony structure located at the base of the spine that connects the torso and legs, providing support for the upper body.

Thoracic Vertebrae

The twelve vertebrae located in the mid-back region of the spine, forming part of the thoracic cage structure.

Foramina

Natural openings or holes in a bone through which nerves and blood vessels pass.

Articulate

In anatomy, to articulate is to form a joint where two bones are attached in a manner that allows movement.