Which of the Following Markets Is Most Likely to Exhibit

question 38

Multiple Choice

Which of the following markets is most likely to exhibit extremely flexible prices?

• A) The oil market
• B) The market for taxi services
• C) The market for newspapers
• D) The market for coin-operated laundry

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Definitions:

Proximal

Situated nearer to the center of the body or the point of attachment.

Remote

Describes something situated far from the main centers of population, or a device that controls an apparatus from a distance, usually wirelessly.

Determinants of Behavior

Factors that influence or control actions, including biological, psychological, and environmental components.

Fraternal Twins

are siblings born simultaneously during the same pregnancy, sharing about 50% of their genes, but are not genetically identical, stemming from two different eggs fertilized by two different sperm.