Demand for a Product Is Likely to Be More Price

question 169

Multiple Choice

Demand for a product is likely to be more price elastic if

• A)it is considered a necessity.
• B)it has many substitutes.
• C)it has few substitutes.
• D)its price is low relative to a product with which it must be used.
• E)none of the above is true.

---

Definitions:

Size Of Paper

Refers to the dimensions of a sheet of paper, commonly measured in terms such as A4, legal, or letter size.

Business Procedures

Established sets of steps or methods followed by an organization to accomplish tasks or objectives, often to ensure consistency and efficiency.

Manuals

Instructional guides or handbooks that provide detailed information on how to use products or perform tasks.

Disadvantages

The negative aspects or conditions that may hinder success or decrease effectiveness.