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Figure 8-4: Question 2

question 104

Multiple Choice

Figure 8-4: Question 2 -type of question you are answering right now is an example of a(n) __________ question. A) Likert scale B) dichotomous C) open-ended D) fixed alternative E) semantic differential Figure 8-4: Question 2
-type of question you are answering right now is an example of a(n) __________ question.

Definitions:

Inelastic

Describes a condition where the demand or supply for a good or service is not significantly changed by changes in price.

Elastic

Elasticity in economics refers to the responsiveness of demand or supply to changes in price or income.

Completely Inelastic

Describes a situation where the demand or supply for a good or service does not change in response to changes in price.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unresponsive to changes in price.