Demand Is Said to Be _____ When a Small Change

question 64

Multiple Choice

Demand is said to be _____ when a small change in price produces a large change in demand.

• A) elastic
• B) inelastic
• C) relative
• D) rigid
• E) dynamic

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Definitions:

Corporation

A legal entity that is distinct and separate from its owners, which can own property, incur liabilities, and is subject to taxation.

Cumulative Voting

A voting system in corporate governance that allows shareholders to concentrate their votes on a single candidate, enhancing minority shareholders' representation.

Minority Shareholder

An investor or shareholder who owns less than 50% of a company's shares, holding lesser voting power and control over corporate decisions compared to majority shareholders.

Extraordinary Measures

Extraordinary measures refer to unconventional or exceptional actions taken, often by governments or organizations, in response to critical and unusual situations.