Demand Is Said to Be Inelastic When

question 23

Multiple Choice

Demand is said to be inelastic when

• A) a given percentage change in price will result in a less than proportionate percentage change in the quantity demanded.
• B) demand exhibits zero responsiveness to price changes.
• C) small price increases will lead to zero quantity demanded.
• D) a given percentage change in price will result in a greater than proportionate percentage change in the quantity demanded.

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Definitions:

Id

In psychoanalysis, the part of the mind responsible for basic instincts and drives.

Sexual Drive

Sexual drive, or libido, is an individual's overall sexual desire or desire for sexual activity.

Human Activity

Any action or task performed by humans, which can include work, leisure, and daily living activities.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue.