Holding Everything Else Constant, the Demand for a Good Tends

question 64

Multiple Choice

Holding everything else constant, the demand for a good tends to be more elastic

• A)the more substitutes there are for the good.
• B)the shorter the time period involved.
• C)the more consumers perceive the good to be a necessity.
• D)the less important the product is in consumers' budgets.

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Definitions:

Ethical Problem

A situation or decision that involves conflicting moral principles or values, requiring ethical judgment.

Use Of Authority

The application or exertion of power and control by individuals in positions of leadership or governance.

Public Policy

Government actions, including laws, regulatory measures, and funding priorities, which are intended to address issues of public concern or interest.

Study Of Ethics

The systematic examination of moral values, principles, and problems to discern right from wrong.