Supply Is Said to Be ____ When the Quantity Supplied

question 34

Multiple Choice

Supply is said to be ____ when the quantity supplied is very responsive to changes in price.

• A)​independent
• B)​inelastic
• C)​unit elastic
• D)​elastic

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Definitions:

Privatization

The transfer of ownership of property or businesses from the government to private individuals or organizations.

Deregulating Labor Law

The process of reducing government rules controlling how businesses can manage workers, aimed at making labor markets more flexible.

Unionization

The act or process of forming or joining a labor union, where workers unite to negotiate with employers over wages, hours, benefits, and other working conditions.

NLRA's Weaknesses

The deficiencies or limitations within the National Labor Relations Act, particularly in protecting workers' rights.