Which of the Following Products Is Likely to Have the Most

question 49

Multiple Choice

Which of the following products is likely to have the most elastic demand?

• A) Gas
• B) Milk
• C) Bread
• D) Digital cameras
• E) Toothpaste

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Definitions:

Indorser

The person who signs and transfers a negotiable instrument, such as a check or promissory note, to another party.

Secondary Liability

The legal obligation to pay a debt if the primary obligor defaults, usually applied in cosigning contexts.

Blank Check

A check signed by the drawer with the amount left blank, allowing the payee to enter any amount.

Raising The Check

Increasing the amount payable on a check, often through unauthorized alteration.