The Demand Curve for Oil Is Inelastic, Meaning That the Quantity

question 179

Multiple Choice

The demand curve for oil is inelastic, meaning that the quantity of oil demanded:

• A) rises by a lot even when the price of oil increases by only a little.
• B) rises by only a little even when the price of oil increases by a lot.
• C) falls by a lot even when the price of oil increases by only a little.
• D) falls by only a little even when the price of oil increases by a lot.

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Definitions:

Inbreeding

In a professional context, the practice of repeatedly selecting internal candidates for vacancies, which can limit diversity and fresh ideas.

Recruiting Process Outsourcing

The practice of outsourcing an organization’s recruiting function to an outside firm

Core Functions

Fundamental activities or duties that are central to the purpose or operation of an organization or job position.

Small Businesses

Enterprises with a small number of employees and relatively low volume of sales, typically privately owned and operated.