Examlex
During the first half of the twentieth century, mental hospital care would best be characterized as ________
Elastic Demand
Elastic demand indicates that the quantity demanded of a good or service significantly changes in response to a change in price.
Necessity
Essential goods or services required for basic living and welfare of individuals.
Luxury
High-quality goods or services that are not essential but are highly desired and associated with wealth or indulgence.
Substitutes
Goods or services that can be used in place of each other to satisfy consumer needs or desires.
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