A Product Would Be More Demand Price Inelastic

question 161

Multiple Choice

A product would be more demand price inelastic:

• A) the shorter the time the consumer has to adjust to price changes.
• B) the higher the price of the good.
• C) the more the number of good substitutes.
• D) the less the essential nature of the good.
• E) if the supply is more price elastic.

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Definitions:

Political Skill

The ability to effectively understand others at work and use such knowledge to influence others to act in ways that enhance one's personal or organizational objectives.

Sources of Power

The origins from which an individual or organization derives the ability to influence others, such as through expert knowledge, authority, or social relationships.

Compliance

The act of conforming to set rules, standards, or laws.

Influence Tactic

Strategies or approaches used by an individual or group to persuade or alter the behavior of others.