The Plants of the Second Green Revolution

question 131

Multiple Choice

The plants of the second green revolution

• A) are dwarf varieties.
• B) are fast-growing.
• C) are high-yield varieties.
• D) allow multiple cropping.
• E) all of these answers

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Definitions:

Income Elasticity

The percentage change in the quantity of a product demanded divided by the percentage change in consumer income that caused the change in quantity demanded. It measures the responsiveness of the demand for a good to a consumer’s change in income.

Perfectly Elastic

Describes a situation where the quantity demanded or supplied reacts extremely to a small change in price, indicating infinite responsiveness.

Demand Curve

A graph representing the relationship between the price of a good or service and the quantity demanded by consumers at those prices.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, indicating the sensitivity of consumers to price changes.