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 or service a luxury or a nessity. ex 2:a substitute available. ex 3: how much of the persons income does the purchase require.
6. depends on how you set up your budget.
7.some does not all and like some can go down or just go up higher.

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