Demand Is Said to Be _____ When a Small Change

question 2

Multiple Choice

Demand is said to be _____ when a small change in price produces a large change in demand.

• A)elastic.
• B)inelastic.
• C)relatively inelastiC.
• D)perfectly inelastic.

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Definitions:

2008

A year marked by significant global events including the start of the Great Recession and the election of Barack Obama as the 44th President of the United States.

Environmental Influences

External factors, including social, cultural, and physical environments, that can affect individuals' behaviors, decisions, and health.

Genetic Influences

The contribution of genes to the development of traits and behaviors in organisms, including humans.

Monozygotic Twins

Twins who originate from a single fertilized egg, therefore sharing identical genetic material.