National Economics Challenge 2025 – 400 Free Practice Questions to Pass the Exam Flash Cards

Question: 1 / 400

What does a 14 percent increase in the price of cheddar cheese leading to a 22 percent decrease in quantity demanded indicate?

?

The demand for cheddar cheese is elastic.

Next
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy