The Demand Curve Facing a Product with Lots of Substitutes

question 65

Multiple Choice

The demand curve facing a product with lots of substitutes is likely to be:

• A) Elastic
• B) Vertical
• C) Neutral
• D) Inelastic
• E) Non-elastic

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Definitions:

Sulphur Dioxide

A toxic gas with a pungent, irritating smell, commonly resulting from the burning of fossil fuels and is a significant pollutant in the atmosphere.

Sulphuric Acid

A highly corrosive strong mineral acid with the molecular formula H2SO4, used in a wide variety of industrial processes.

Acid Deposition

The falling of acids and acid-forming compounds from the atmosphere to the Earth's surface, often as rain, snow, or dust, having harmful effects on ecosystems, structures, and human health.

Tar Sand Oil

A viscous form of petroleum found in sand deposits, which requires intensive extraction and processing methods.