Which of the Following Is Not Characteristic of a Product

question 79

Multiple Choice

Which of the following is not characteristic of a product with relatively inelastic demand?

• A) The good is regarded by consumers as a necessity.
• B) There are a large number of good substitutes for the good.
• C) Buyers spend a small percentage of their total income on the product.
• D) Consumers have had only a short time period to adjust to changes in price.

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Definitions:

Anxiety

A psychological condition marked by intense worry, nervousness, or dread that significantly disrupts daily functioning.

Supervisory Style

The method and approach a supervisor uses to oversee, guide, and support their employees or team.

Helping Trainees

The act of supporting and guiding individuals who are in the process of acquiring new skills or knowledge.

Unintentional Harm

Negative outcomes or injury caused without the intent to cause harm.