Examlex
Which of the following statements about price elasticity of demand is true?
Resistance to Change
Opposition or pushback from individuals or groups within an organization towards initiatives, policies, or changes perceived as harmful or unnecessary.
Sucker Trap
A situation where an individual or group is easily deceived or manipulated into a disadvantageous position.
Short-Term Thinking
A focus or emphasis on immediate gains or results, often at the expense of long-term benefits.
Overconfidence
Overconfidence refers to an individual's unwarranted belief in their own abilities or the correctness of their judgement, often leading to mistakes or failures.
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