Demand Is Said to Be Inelastic When

question 23

Multiple Choice

Demand is said to be inelastic when

• A) a given percentage change in price will result in a less than proportionate percentage change in the quantity demanded.
• B) demand exhibits zero responsiveness to price changes.
• C) small price increases will lead to zero quantity demanded.
• D) a given percentage change in price will result in a greater than proportionate percentage change in the quantity demanded.

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Definitions:

Employment Act

Legislation that sets out the rights and obligations of employees and employers within the workplace.

Forced Retirement

The situation in which an employee is compelled to retire against their wishes, often due to company policies or economic pressures.

Executive Branch

The part of the government responsible for implementing, enforcing, and administering the laws and policies of a state or nation.