For which of the following categories of goods is demand likely to be the most price elastic?

It is not uncommon for business professors to make a statement such as the following: "While economists are happy in their never-never land of economic theory, we business professors seriously study facts of the real world"

According to your textbook, the statement is A) generally true. B) misleading; even business professors rely upon theories to discriminate among and make sense out of the facts they choose to study. C) confused, because in actuality it is the business professors who are trapped in the never-never land of theory, while the economists seriously study real-world facts without using theories. D) false, because economics and business are one and the same discipline.

The worth of __________ tend(s) to be undervalued in our society

a. Internal exchanges b. Abundance c. Scarcity and risk d. Tangible goods