The Demand Curve Is Elastic If an Increase in Price

question 69

True/False

The demand curve is elastic if an increase in price reduces the quantity demanded by only a little.

---

Definitions:

Extrinsic Motivation

The drive to perform or engage in an activity due to external rewards or pressures rather than for the satisfaction derived from the activity itself.

Obesity

A medical condition characterized by an excessive accumulation of body fat, often defined by a Body Mass Index (BMI) of 30 or higher.

Faulty Metabolism

An abnormality or impairment in the body's ability to convert food and drink into energy, leading to various health issues.

Genetics

The study of heredity and the variation of inherited characteristics.