A Good Will Have a More Inelastic Demand, the

question 71

Multiple Choice

A good will have a more inelastic demand, the

• A)greater the availability of close substitutes.
• B)broader the definition of the market.
• C)longer the period of time.
• D)more it is regarded as a luxury.

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Definitions:

Ecology

A discipline of biology that studies the interrelations among living things and their environments.

Zero Population Growth

Point at which the birth rate equals the death rate. A population with zero population growth does not change in size.

Increase

A rise or growth in quantity, size, intensity, or some other measure.

Population Density

The number of individuals of a species per unit of area or volume at a given time.