Demand Is Inelastic If

question 78

Multiple Choice

Demand is inelastic if

• A)the percentage change in quantity is greater than the percentage change in price.
• B)the elasticity of demand is less than 1.
• C)the demand for the good is sensitive to changes in price.
• D)more units will be purchased if the price increases.

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Definitions:

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states, such as triumph, despair, pride, and shame.

Etiquette

The customary code of polite behavior in society or among members of a particular profession or group.

Personal Responsibility

The obligation to take charge of one's own actions and their consequences, often associated with ethical living and professional integrity.

High Self-Esteem

A psychological condition where an individual holds a positive view of self-worth and abilities.