Which of the Following Is Most Clearly Consistent with the Basic

question 133

Multiple Choice

Which of the following is most clearly consistent with the basic postulate of economics regarding the reaction of people to a change in incentives.

• A) Farmers produce fewer bushels of wheat in response to an increase in the price of wheat.
• B) People will buy more milk at a price of $2 per gallon than at $1 per gallon.
• C) People will buy less gas if the price of gas increases by $.20 per gallon.
• D) People will consume more beef if the price increases from $1 to $2 per pound.

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Definitions:

Corporate Cults

Organizations that cultivate intense employee loyalty and devotion, sometimes to the point of excluding outside influences and fostering an insular culture.

Subcultures

Distinct cultural groups within a larger culture, each with its own values, practices, and beliefs that differentiate them from the broader culture.

Adaptive Cultures

Corporate cultures that are flexible and responsive to changes in the external environment, facilitating innovation and change within the organization.

Stable Value System

Refers to an established and consistent set of beliefs and ethical standards that guide an individual or organization's behavior.