Regardless of Whether There Is an Increase or Decrease of the Price

question 4

True/False

Regardless of whether there is an increase or decrease of the price of a B2B product, customers buying the same quantity signifies an inelastic demand for that product.

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Definitions:

GST

The Goods and Services Tax is a form of value-added tax applied to almost all goods and services purchased for use within the nation.

PST

Provincial Sales Tax; a tax levied by certain provinces in Canada on the sale of goods and services.

Percentage

A percentage is a way of expressing a number as a fraction of 100, used to describe proportions and changes in quantities.

Value

The worth or importance of something, often determined by its utility, scarcity, or demand.