The New Revision of Article 3 No Longer Considers ________

question 45

Multiple Choice

The new revision of Article 3 no longer considers ________ as restrictive indorsements.

• A)indorsements for deposit
• B)conditional indorsements
• C)indorsements directing the indorsee to act for someone else's benefit
• D)indorsements for collection

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Definitions:

Elastic

Describes demand that is highly responsive to changes in price, where a small price change leads to a large change in quantity demanded.

Inelastic

Describes a scenario where the demand or supply of a good or service is not significantly changed when the price of that good or service changes.

Elasticity of Demand

The measure of how much the quantity demanded of a good responds to a change in the price of that good.

Quantities Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level.