Business, 31.10.2019 21:31 dayanirisr45

When demand for a product changes because of its price, this product is said to be elastic.

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true
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Answer from: justiceisbae1

The answer is True

Explanation:

The demand for a product refers to the customers' desire or willingness to pay for it. In some cases the demand is affected by the price or a product, while in others the demand is stable, this factor is known as elasticity. According to the elasticity concept, a product is elastic if changes in its price lead to changes in its demand.

For example, cars are an elastic product because if prices of cars are low, there are more possible buyers and the demand increase; at the same time, if the price increases many people would abstain from buying a car and the demand would fall. Thus, it is true the product is elastic "When demand for a product changes because of its price".

Answer from: Quest

answer; a large down payment,a longer term loan, would result in a lower monthly payment;

Answer from: Quest

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?

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When demand for a product changes because of its price, this product is said to be elastic.

Questions

Business, 31.07.2019 20:30

If annual demand is 24,000 units, and the order quantity is 3,000 units, which of the following accurately describes the decision-making environment?...