Price Elasticity of Demand Is Determined by a Number of Factors,such

question 272

Multiple Choice

Price elasticity of demand is determined by a number of factors,such as the necessity of the product or service,the cash outlay of purchase relative to a person's disposable income,and

• A)the stage of the product or service in its product life cycle.
• B)the degree of carrying costs for the manufacturer or distributor.
• C)the availability of substitutes.
• D)the financial resources of the organization itself.
• E)the ability of the organization to meet sudden increases in demand.

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Definitions:

Capital Budget

A budget for investments in major physical assets, such as buildings and machinery, expected to provide benefits in the future.

Maintenance Supplies

Items and materials used in the routine care, repair, and upkeep of machinery, buildings, and equipment to ensure operational efficiency and safety.

Supply Planning Process

The proactive method of coordinating assets to optimize the supply of products and services.

Sales Forecast

The process of estimating future sales, based on historical data, industry comparisons, and market analysis, to guide business planning.