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The Item Below Likely to Have the Highest Income Elasticity

question 50

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The item below likely to have the highest income elasticity of demand is:


Definitions:

Promissory Notes

Written promises to pay a specified sum of money to a certain person or entity under agreed terms.

Negotiated

Discussed or arranged terms and conditions towards an agreement through a process of bargaining.

Assigned

Designated or allocated to someone or something for a specific purpose.

Certificate Of Deposit

A savings certificate entitling the bearer to receive interest after a fixed term deposit matures, with a fixed or variable interest rate.

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