When the Elasticity of Demand or Supply Is Greater Than

question 205

Multiple Choice

When the elasticity of demand or supply is greater than 1.0,that demand or supply is said to be:

• A)elastic.
• B)stagnant.
• C)marginal.
• D)inelastic.

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Definitions:

Planning Process

A systematic approach to setting goals, developing strategies, and outlining tasks and schedules to achieve those goals.

Analytical Report

A document that presents detailed analysis and evaluation of a specific issue or problem, often intended to support decision-making processes.

Direct Approach

A communication style or method that is straightforward and explicit, without evasion or complication.

Oversimplified

Describing a complex issue or problem in a way that makes it seem simpler than it actually is, often missing out on important details.