An Inferior Good Has a ________ Elasticity of Demand

question 296

Multiple Choice

An inferior good has a ________ elasticity of demand.

• A) positive income
• B) negative income
• C) negative cross
• D) positive cross
• E) negative price

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Definitions:

Autocratic Decision Procedure

A decision-making process where one person holds all the power and makes decisions without input from others.

No Participation

A situation or condition where individuals or groups are not involved or engaged in a process or activity.

Opinions

Personal beliefs or judgments that are not necessarily based on fact or knowledge.

Delegation

The act of assigning responsibility and authority to someone else to carry out specific activities while maintaining accountability.