Which of the Following Is Likely to Have the Most

question 89

Multiple Choice

Which of the following is likely to have the most price inelastic demand?

• A)tablet computers
• B)leather boots
• C)lightbulbs
• D)optional textbooks

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Definitions:

Resource Ownership

The legal rights to possess, use, and dispose of resources such as land, buildings, goods, or intellectual property.

Corporation

A legal entity that is separate from its owners, with its own rights and responsibilities, allowing it to own property, sue or be sued, and enter contracts.

Board of Directors

A group of individuals elected to represent shareholders and oversee the management and major decisions of a corporation.

Sarbanes-Oxley Act

U.S. legislation enacted in 2002 to protect investors from the possibility of fraudulent accounting activities by corporations.