When Quantity Demanded Responds Strongly to Changes in Price,demand Is

question 22

Multiple Choice

When quantity demanded responds strongly to changes in price,demand is said to be

• A)fluid.
• B)elastic.
• C)dynamic.
• D)highly variable.

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Definitions:

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Fundamental truths or propositions that serve as the foundation for a system of belief or behavior or for a chain of reasoning.

Ethics

A branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct, often addressing issues of morality.

Tradition

Customs, beliefs, or practices passed down through generations within a culture or society.

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A set of beliefs regarding the cause, nature, and purpose of the universe, especially when considered as the creation of a superhuman agency or agencies, often involving devotional and ritual observances.