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ZanzabumX [31]
3 years ago
12

If the elasticity of demand for a good at a certain price is greater than one, we describe demand as _____.

Social Studies
1 answer:
Alekssandra [29.7K]3 years ago
6 0

Answer:

Elastic demand

Explanation:

Price elasticity of demand is a concept that seeks to measure the sensitivity of demand to the price of a good or service. Thus, if demand is elastic, it means that even small variations in price have a strong impact on demand. Conversely, if demand is inelastic, variations in the price of the good will not greatly affect demand, meaning consumers will continue to demand that particular good or service.  

The calculation of the price elasticity of demand consists in the division between the variation of the quantity demanded by the variation in the price practiced. If the result is greater than 1, demand is considered elastic (price sensitive). Conversely, if elasticity is less than 1, demand is considered inelastic (little price sensitive). If elasticity equals one, then the change in demand is exactly the same as the price change.

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In 3–5 sentences, explain 2 causes and 2 effects of the stock market crash of 1929.
Gala2k [10]

Causes of the Stock market crash includes a steep fall in the prices of stocks and a widespread financial panic caused by the fall. The effects includes Investors became ruined and some went deep in debt.

<h3>Stock market crash of 1929</h3>

The Stock market crash was the major American stock market crash that happened on September 1929 when the share prices on the New York Stock Exchange collapsed drastically.

The causes of the Stock market crash includes:

  • the sharp and continuous steep fall in the prices of stocks
  • a widespread financial panic caused by the fall

The effect of the Stock market crash includes:

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  • Investors went deep in debt.

Read more about 1929 Stock market crash

<em>brainly.com/question/813964</em>

5 0
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WILL MARK BRAINLY AND EXTRA POINTS
Nimfa-mama [501]

Answer:

2 Rapidly increasing

Explanation:

More people are being born and less are dying creating a population that is increasing!

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