Match Each Definition with the Appropriate Term

question 108

Multiple Choice

Match each definition with the appropriate term.
-learning that occurs when you acquire knowledge about something without being aware of how you did so and without being able to state exactly what it is you have learned

• A)inductive reasoning
• B)dialectal reasoning
• C)implicit learning
• D)tacit knowledge
• E)deductive reasoning

---

Definitions:

Luxury Goods

High-quality, expensive items that are not essential but are desired for their status symbol and prestige.

Inelastic Demand

A situation where the demand for a product or service does not significantly change in response to a price change, indicating consumers’ willingness to buy regardless of price adjustments.

Log-Linear Form

A mathematical representation where variables are transformed using a logarithm, making multiplicative relationships appear linear.

Elasticity Values

Quantitative measures of elasticity, such as price elasticity of demand or supply, indicating how responsive one variable is to changes in another variable.