<span>Edward is interested in persuading his listeners to not jump to conclusions. He would like them to ignore stereotypes and tackle the issue with an open mind rather than simply relying on their traditional thought. He needs them to know that they will only progress by taking a different view on things.</span>
Answer:
D. the greater the availability of close substitutes.
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
Goods that are inelastic in demand are usually consumer-essential goods for which there are few substitution options, such as a cancer drug. On the contrary, elastic goods are those whose price variations diminish the demand for a range of substitute goods. For example, if the price of rice goes up, people may demand spaghetti, which is a substitute good.Therefore, goods with a large number of substitutes tend to have price elastic demand.
Answer:
Consumer spending is an important economic indicator because it usually coincides with the overall consumer confidence in a nation's economy. High consumer confidence indicators usually relate to higher levels of consumer spending in the economic market
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