Other Things Equal,the Demand for a Good Tends to Be

question 5

Multiple Choice

Other things equal,the demand for a good tends to be more inelastic,the

• A)fewer the available substitutes.
• B)longer the time period considered.
• C)more the good is considered a luxury good.
• D)more narrowly defined is the market for the good.

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Definitions:

Extraverted Person

An extraverted person is someone who is outgoing, sociable, and thrives in social settings, often feeling energized by interactions with others.

Paradigm

A typical example or pattern of something; a model or framework that sets the standard for others to follow.

Pessimism

A tendency to see the worst aspect of things or believe that the worst will happen; a lack of hope or confidence in the future.

Cultural Construals

The ways in which individual perceptions and understandings of the world are shaped by cultural context and influences.