If a Student Is Enrolled in a Psychology Class, Then

question 186

True/False

If a student is enrolled in a psychology class, then it is unnecessary to obtain an informed consent from the person if he or she is taking part in an experiment that is a requirement of the class.

---

Definitions:

Anticipated Markup

The expected percentage added to the cost of goods to calculate the selling price, aiming for profit.

Elastic Demand

A situation where demand for a product or service significantly changes in response to changes in price.

Inelastic Demand

A situation where the demand for a product or service does not significantly change in response to price changes, indicating consumers' strong need or preference for the product.

Sensitive to Price

Sensitive to price describes a situation where demand for a product is highly affected by changes in its price.