Answer:
The correct option is C.
Explanation: Price elasticity is the measure of the rate of change in the level of quantity demanded due to a change in the level of price.
Price elasticity is usually negative, this means that it follows the law of demand; as price increases quantity demanded decreases.
Also, another incidence that can affect price elasticity is an availability of cheaper alternatives. If cheaper alternatives of a particular product are introduced into the market, the demand for that product will reduce, because consumers will abandon it for its cheaper alternatives, thereby driving the elasticity of that product higher.
Therefore, in the scenario given above, the elasticity is higher than -1.2 because there are new brands that have just been introduced into the market.
B. Communication is not affected by geographic area of the country.
C. Gestures that Americans take for granted can be offensive to others.
D. All people who live in the United States communicate in the same way.
Answer: Producing or creating goods and services.
Explanation:
Production is known to be the process through which raw materials and resources are transformed or changed into finished goods (products) and services. Furthermore, it is also the method of making goods and services so as to meet or satisfy consumers demand. Thus, good production of goods and services attract the purchasing power of customers and make them to keep on buying.