If a Huge Percentage Change in Price Leads to a Small

question 46

True/False

If a huge percentage change in price leads to a small percentage change in quantity demanded, then demand is said to be inelastic.

---

Definitions:

Intrinsic Reward

A type of motivation derived from internal satisfaction or the pleasure in performing an activity, rather than external factors.

Sense of Accomplishment

A feeling of pride and fulfillment that comes from achieving something significant or completing a task.

Incentive Compensation

A form of remuneration designed to reward employees for achieving specific performance targets or objectives, often aimed at motivating higher levels of productivity.

Annual Salary

The total amount of money a person earns from their job in a year, often expressed as a pre-tax figure or before deductions.