Demand Is Almost Always More Price Elastic in the Long

question 86

Multiple Choice

Demand is almost always more price elastic in the long run because:

• A) people's preferences change.
• B) newer versions of a good/service replace older ones.
• C) production of the good/service stops.
• D) more options become available and people can make different choices.
• E) government regulations increase.

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Definitions:

Outside Agitators

Individuals who come from outside a community or organization and are believed to cause or stir up conflict or trouble within it.

Nonroutine Collective Action

Unplanned, spontaneous group action that arises in response to an unexpected event, typically outside the norms of societal behavior.

Emergent Norms

Social norms that develop spontaneously in response to new situations or emergencies, guiding behavior in the absence of established rules.

Resource Mobilization

The process of gathering and deploying both tangible and intangible resources (such as money, support, and information) to achieve specific organizational or social goals.