If the Demand for a Product Stays Almost Constant Throughout

question 138

Multiple Choice

If the demand for a product stays almost constant throughout an industry regardless of the change in the price of the product,it can be said that the product is experiencing a(n) _____ demand.

• A)derived
• B)joint
• C)volatile
• D)inelastic

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Definitions:

Human Relations

The study and management of interactions and relationships between individuals, especially in the workplace.

Cooperative Business Ownership

A business model owned and operated by a group of individuals for their mutual benefit, where decisions and profits are shared among the members.

Substance Abuse

The harmful or hazardous use of psychoactive substances, including alcohol and illicit drugs, leading to addiction or dependence.

Secondary Labour Market

Part of the labor market characterized by low pay, job insecurity, and limited career opportunities, often contrasting with primary labor markets that offer better employment conditions.