Which of the Following Decreases the Demand for an Inferior

question 91

Multiple Choice

Which of the following decreases the demand for an inferior good?

• A) an increase in income
• B) a decrease in income
• C) an increase in the price of a substitute
• D) a decrease in the price of a complement

Understand and describe the essential strategies for building competitive advantage in organizations.

Analyze and differentiate between the four traditional organization designs: functional, geographic, product, and network.

Understand the concept of geographic design and discuss its benefits and disadvantages.

Compare and contrast mechanistic and organic organizations and their suitability for future organizational needs.

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Definitions:

Competitive Advantage

A unique attribute or capability that allows a company to outperform its competitors.

Observable Personal Attributes

Characteristics or qualities of an individual that can be noticed or measured by others through interaction or observation.

Stereotypes

Oversimplified and generalized beliefs or opinions about a group of people, often ignoring individual differences and leading to prejudices.

Primary Dimension

Refers to the core characteristics that define a person, including age, race, gender, physical ability, and sexual orientation.