The Price Elasticity of Demand Shows

question 207

Multiple Choice

The price elasticity of demand shows

• A) the relationship between market price and household income.
• B) the proportionate amount by which the quantity demanded changes in response to a proportionate change in price.
• C) the quantity demanded at a given price.
• D) the proportionate amount by which the price changes in response to a proportionate change in quantity demanded.

---

Definitions:

Tax Rates

The rate at which a person or business is required to pay taxes to the authorities.

K-12 Public Education

The publicly funded education system in the United States that covers kindergarten through 12th grade.

Property Tax

A levy on property that the owner is required to pay, typically based on the value of the property, used to fund local government and public services.

Income Tax

A tax levied by a government directly on an individual's or organization's income.