The Demand for Which of the Following Commodities Is Likely

question 103

Multiple Choice

The demand for which of the following commodities is likely to be more price inelastic?

• A)food.
• B)hamburgers.
• C)Big Mac's.
• D)sandwiches.

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Definitions:

Industrialized Societies

Societies characterized by a high level of industrial activity, with a significant portion of the economy involved in manufacturing and services rather than agriculture.

Pyramid

A monumental structure with a square or triangular base and sloping sides that meet in a point at the top, used in ancient cultures as a tomb or temple.

Mexico City

The capital city of Mexico, known for its rich history, cultural significance, and as a major economic and political center in Latin America.

Population Pyramid

Is a graphic representation that shows the distribution of various age groups in a population, which forms the shape of a pyramid when the population is growing.