The Primary Source(s)of Price Variability Is

question 48

Multiple Choice

The primary source(s) of price variability is

• A)demand variability.
• B)unemployment.
• C)supply variability.
• D)demand and supply variability.

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Definitions:

Household Electricity

Electrical power supplied to homes, used for operating appliances, lighting, and other domestic purposes.

Elastic

In economics, it describes a situation where the supply or demand for a good or service changes significantly when its price changes. High elasticity indicates that a slight price change could lead to a significant change in quantity demanded or supplied.

Percentage Change

A mathematical calculation that represents the degree of change over time, expressed as a percentage, to compare changes in quantities or measures.

Total Revenue

The comprehensive amount of financial earnings a company gathers from its sales and services over a designated period.