The Demand for Ice Cream Is _________________ Than Is the Demand

question 106

Multiple Choice

The demand for ice cream is _________________ than is the demand for frozen treats because ________________.

• A) less price elastic; ice cream requires a smaller portion of one's income
• B) more price elastic; ice cream requires a smaller portion of one's income
• C) less price elastic; the scope of the market for ice cream is less broadly defined
• D) more price elastic; the scope of the market for ice cream is less broadly defined

---

Definitions:

Semi-Annually

Occurring twice a year; typically refers to payments or adjustments made every six months.

Withdraw

To take money out of an account or to remove oneself from a particular situation.

Compounded Annually

A method of calculating interest where the interest for the year is added to the principal sum, thus interest in the next year is on the increased sum.

Loan Amount

The total sum of money borrowed in a loan, which the borrower agrees to pay back along with interest.