When Consumers Are Very Sensitive to the Price Change of a Product,the

question 100

True/False

When consumers are very sensitive to the price change of a product,the demand for it is price elastic.

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Definitions:

High-involvement

A management philosophy that emphasizes employee participation in decision-making and operations, leading to increased job satisfaction and organizational performance.

Human Relations

The study and management of employees' behavior, attitudes, and performance to improve workplace relationships and productivity.

Goal-sharing Plans

Incentive plans where employees are rewarded for meeting or exceeding certain performance targets set by the organization.

Gain-sharing Plans

A performance-based compensation strategy where employees receive bonuses for improvements in productivity or company performance.