Which of the Following Would Be a Type of Economic

question 50

Multiple Choice

Which of the following would be a type of economic group?

• A) AARP
• B) the AFL-CIO
• C) the American Trial Lawyers Association
• D) the National Right to Life Committee
• E) NARAL

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Definitions:

Consumer Expenditure

The total amount spent by consumers on goods and services in a given period.

Total Revenue

The overall amount of money generated from the sale of goods and services before any expenses are subtracted.

Inelastic

Describes a situation where the quantity demanded or supplied changes by a smaller percentage than the percentage change in price.

Total Revenue

is the total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.