For Computers and Other Business Equipment, Small Changes in Business

question 28

Multiple Choice

For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment, and the long-run income response tends to be smaller. Industries that face demand behavior of this type are known as:

• A) natural monopolies.
• B) cartels.
• C) cyclical industries.
• D) constant-cost industries.

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Definitions:

Developmental Stages

Periods of life characterized by specific physical, psychological, and emotional changes that people typically undergo.

Storming

A stage in group development characterized by conflict and competition as team members work to establish norms and structures.

Therapeutic

Relating to the healing of disease or maintenance of health, often used in the context of treatments, interventions, or environments designed to promote well-being.

Professional

Relating to a job that requires specialized knowledge and often intensive academic education.