When Demand Is Inelastic,the Price Elasticity of Demand Is

question 16

Multiple Choice

When demand is inelastic,the price elasticity of demand is

• A)less than 1,and price and total revenue will move in the same direction.
• B)less than 1,and price and total revenue will move in opposite directions.
• C)greater than 1,and price and total revenue will move in the same direction.
• D)greater than 1,and price and total revenue will move in opposite directions.

Understand political socialization, its processes, and its impact on individual political beliefs.

Recognize the role of various political ideologies in shaping attitudes toward government intervention in economic and social matters.

Understand the significance of political culture in the United States, including the influence of Western European roots and individualism.

Understand the ideological differences between liberals, conservatives, libertarians, and socialists.

---

Definitions:

Externally Restricted

Funds or resources that are restricted in use by external parties or agreements, often specified for particular purposes or projects.

Diversity

The inclusion of different types of people (such as people of different races, cultures, or genders) in a group or organization.

Abundance

The situation in which there is more than enough of a particular resource or commodity available.

Ethnic Diversity

The inclusion of individuals from a variety of ethnic, racial, and cultural backgrounds within a certain context or society.