An Elastic Response in the Quantity of a Good Demanded

question 209

Multiple Choice

An elastic response in the quantity of a good demanded would be caused by

• A) the availability of many substitutes.
• B) a lack of substitutes.
• C) a lack of sensitivity to the good's price.
• D) the good representing a small portion of a person's budget.

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Definitions:

Haitian Slave Revolt

A successful insurrection by enslaved Africans in Saint-Domingue (now Haiti) beginning in 1791, which led to the abolition of slavery there and the establishment of the Republic of Haiti.

Literate

Having the ability to read and write.

Armed and United

A phrase indicating a group is both equipped for conflict and cohesive in its unity, potentially for a common cause or defense.

Racial Categories

Classifications of humans into groups based on physical traits, ancestry, genetics, or social relations, often used for social or political purposes.