Which of the Following Is Most Likely to Have an Income

question 147

Multiple Choice

Which of the following is most likely to have an income elasticity of demand that is less than 1?

• A) movies
• B) airline travel
• C) foreign travel
• D) food
• E) restaurant meals

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Definitions:

Authority

Legitimate power. But note: although many people seem to think that an appeal to authority will settle a philosophical dispute, in most philosophical disputes, it is the nature of authority itself that is in question.

Physically Strong

Having significant physical power, muscle strength, and stamina to perform tasks that require physical effort.

Good Life

A life well lived; the most desirable way to live.

Aristotle

An ancient Greek philosopher and scientist, one of the greatest intellectual figures of Western history, he made vast contributions to various fields, including logic, metaphysics, ethics, and biology.