Match the term with its definition.
-Demand that changes significantly when there is a change in the price of a product or service
A)aging schedule
B)bad-debt ratio
C)break-even analysis
D)break-even point
E)contribution margin
F)elastic demand
G)elasticity of demand
H)inelastic demand
I)price

Question

Quizplus · Accepted Answer

Elastic demand is when the demand for a product or service changes significantly in response to a change in its price.

Match the Term with Its Definition