If the Quantity Demanded of Agricultural Output Is Very Unresponsive

question 168

Multiple Choice

If the quantity demanded of agricultural output is very unresponsive to a fall in price,the demand for agricultural output is:

• A)price-elastic.
• B)price-inelastic.
• C)positively sloped.
• D)horizontal.

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Definitions:

Cash Balance

The amount of cash a company has available at any given time, reflecting its liquidity.

Payroll

The total amount of wages, salaries, and other earnings that a business pays to its employees.

Liquidity Ratios

Financial ratios used to measure a firm’s ability to meet its short-term obligations to creditors as they come due.

Short-term Obligations

Financial liabilities that are due within one year, typically including accounts payable, short-term loans, and other debts.