Monthly Archives: October 2013

elastic vs. inelastic

inalastic ex: 1.car 2. utilities (water, gas. electricity) 3.medicine elastic ex: 1.ipod 2.chips 3.soda inelastic will not change because it is necessary elastic is consdered elastice because the demand for it can change especially because they are not neccesary .

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1. which group lists the key principles of the free enterprise system? answer: profit motive , legal equality , private property , voluntary exchange. 2. what is considered a negative effect of government regulation? answer: it is expensive for businesses … Continue reading

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my stock portfolio is doing great. my stock is gaining. – KO- HSA- WAL. yes and some are but not all i dont have none. i just might sell one

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section 3 assessment chapter 8

1.price change does not affect demand much. 2.elasticity demand – a measure of how consumers respond to price changes. 3.the price will go up. 4. because the price went down and then everything changes. 5. ex 1 : the product … Continue reading

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1.in october 2008,heavy rains damaged some of the largest pumpkin crops in the west texes made a shortage of pumpkins. 2.because the energy and cost are so high . 3.13 cents a pound and 10 years is about 6 cents. … Continue reading

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elasticity – a measure of how consumers respond to price changes. ex: 1.change demand for a product. 2. pricing and revenue 3.price changes 4.how much buyers will cut back 5.A product with inelastic supply would be one where the producers … Continue reading

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section 1 and 2 assesment

section 1: 1.quantity demand goes down. 2.substitution effect and income effect. 3.then demand will go down. 4.the goods price by consuming less of that good and more of other goods. 5.price and how many per day. section 2: 1.because the … Continue reading

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