Which of the Following Is Not a Factor in Determining

question 77

Multiple Choice

Which of the following is not a factor in determining the price elasticity of demand?

• A) the number of available substitutes
• B) the time period involved
• C) the proportion of the budget spent on the item
• D) the slope of the supply curve

---

Definitions:

Natural Resources

Raw materials and resources found in the environment that are used for economic gain, such as minerals, forests, water, and fertile land.

Net Benefits

The difference between the total benefits and total costs associated with an economic decision or project.

Greater Extraction

Refers to the increased removal of natural resources, such as minerals, fossil fuels, or timber from the environment, often for commercial purposes.

Best Use

The most efficient or profitable use of a resource, property, or asset, taking into consideration its potential to generate the highest return or utility.