If the Price of a Good Rises by 10% and the Percentage

question 46

Multiple Choice

If the price of a good rises by 10% and the percentage decrease in the total amount consumers spend on the good is 10% then the good is

• A)elastic.
• B)inelastic.
• C)unit elastic.
• D)perfectly inelastic.

---

Definitions:

Assessment Instruments

Tools or methods used to evaluate, measure, or gauge a subject's knowledge, abilities, attitudes, or personality traits.

Informal Assessment

An unstructured method of evaluating skills or performance, often based on observation and less standardized procedures.

Assessment Instruments

Tools or methods used to evaluate, measure, or assess certain attributes or abilities in individuals.

Cumulative Records

Comprehensive records maintained by schools that document a student's educational history and progress over time.