ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following effects on elasticity is the odd one out?
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If a product/service is a necessity.
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None addictive.
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If a product/service has no substitutes.
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If a product/service has good brand image.
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Explanation:
Detailed explanation-1: -To identify the odd one out follows the following pattern: Observe the objects carefully. Describe the objects. Identify the similarities. Identify the one which is different or dissimilar.
Detailed explanation-2: -The odd one out is the income method. The pre-tax earnings produced by people and businesses in the economy are summed together to determine the national income using this method.
There is 1 question to complete.