Demand for a Product Is Likely to Be More Price

question 213

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) it requires a small cash outlay.
• E) none of the above is true.

---

Definitions:

Initially Disliked

Feeling of aversion or disfavor towards something or someone when first encountered.

Waist-To-Hip Ratio

A measure of body shape that compares the size of the waist to that of the hips, often used as an indicator of health and fertility.

Attractiveness

The quality of being pleasing or appealing to the senses, often used in the context of physical appearance but also can pertain to personality, traits, or objects.

Individualistic Cultures

Societal frameworks where personal achievements and independence are emphasized over collective goals or identities.