When Demand Is ________,Increases in Price Result in Increases in Total

question 21

Multiple Choice

When demand is ________,increases in price result in increases in total revenues while decreases in price result in decreases in total revenue.

• A)elastic
• B)flexible
• C)synergistic
• D)inelastic
• E)supply-driven

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Definitions:

Crowdfunding

A strategy for acquiring funds by leveraging the combined contributions of relatives, friends, clients, and independent investors.

Funding Goal

The specific amount of money that a project or venture aims to raise within a given timeframe, often through means such as loans, investments, or crowdfunding campaigns.

Crowdfunding

The strategy of accumulating funds for a project or venture by appealing for small monetary donations from countless individuals, typically through the web.

Product

A good or service offered by a business or seller to meet consumer needs or demands.