Taking Responsibility for Your Work Life Means

question 2

Multiple Choice

Taking responsibility for your work life means:

• A) planning your career path to keep your options open and your progress unobstructed.
• B) reacting emotionally to disappointments on the job.
• C) placing responsibility for obstacles on those who are creating them (bosses,coworkers,"the man").
• D) Acting immediately on any and every opportunity offered you,so you won't miss out on them.

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Definitions:

Elastic Demand

is a situation where the demand for a product or service significantly changes in response to a change in price.

Price Discrimination

Price Discrimination is the strategy of selling the same product at different prices to different groups of customers, based on their willingness to pay.

Pure Monopolist

A market structure where a single company is the exclusive provider of a product or service in a market, facing no competition.

Economies of Scale

Economic benefits that companies gain from their size of operations, which result in a reduction in the cost per unit as the scale increases.