Examlex
Which of the following is true regarding the majority and minority groups in an organization?
Substitution Effect
The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another more or less expensive one.
Firms
Business organizations that produce goods or offer services, typically with the aim of generating profit.
Resources
Inputs or factors that are used in the production of goods and services, such as land, labor, capital, and entrepreneurship.
Demand for Carpenters
The market need or desire for carpentry skills and services.
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