An Organization Wonders Whether It Is Right to Develop Procedures

question 59

Multiple Choice

An organization wonders whether it is right to develop procedures for giving advance notice to employees about store closings. This is an example of_________ .

• A)rites of passage
• B)corporate culture
• C)organizational ethics
• D)organizational behavior

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Definitions:

Inelastic

This refers to a lack of sensitivity in the quantity demanded or supplied when the price changes.

Elastic

Describes a situation in economics where the demand or supply for a good or service significantly changes in response to a change in price.

Substitute Goods

Products or services that can be used in place of one another, with their demand being inversely related: as the price of one rises, the demand for the other increases.

Margarine

A butter substitute made from vegetable oils or animal fats, often used in cooking or as a spread.