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:

Federal Regulation

Rules or laws set by the federal government of a country to regulate activities, industries, and environments.

Adjacent Farm

A farm property that shares a common boundary or is very near another farm.

Constitution Clause

A specific provision or section within a constitution that outlines rights, powers, or duties.

Fighting Words

Words which by their very utterance inflict injury or tend to incite an immediate breach of the peace, not protected by free speech.