Personal Classified Ads Started Out in the 1960s in Countercultural

question 81

True/False

Personal classified ads started out in the 1960s in countercultural or hippie newspapers.

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Definitions:

Income Elasticity

A measure of how much the demand for a product changes with a change in consumers' income.

Completely Inelastic

A situation in which the demand or supply for a good or service is totally unresponsive to price changes.

Inelastic

Describes a condition where the demand or supply for a good or service is not significantly changed by changes in price.

Elastic

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