The Closer the Substitutes for a Good, the

question 85

Multiple Choice

The closer the substitutes for a good, the

• A) more elastic is the demand for the good.
• B) less elastic is the demand for the good.
• C) smaller the degree of substitutability between the goods.
• D) larger the proportion of income that is spent on the good.

---

Definitions:

Social Cohesion

The bonds that bring people together in a society, enabling them to cooperate and work together effectively.

Totem

An object that has special significance and meaning for a group of believers.

Special Significance

A term indicating that something holds particular importance or value in a given context.

Sacred Meaning

The significance attributed to a thing, practice, or phenomenon considered holy, divine, or spiritually significant within a cultural or religious context.