One of the Disadvantages of Internal Consultants Is Their

question 4

Multiple Choice

One of the disadvantages of internal consultants is their:

• A)lack of understanding of the organisation
• B)access to information
• C)potential loss of objectivity
• D)lack of training
• E)excessive dependence on one client

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Definitions:

Cross Elasticity

A measure of the responsiveness of the demand for one product in relation to a change in the price of another product.

Substitutes

Goods or services that can be used in place of each other.

Elastic

A term that describes the sensitivity of the demand for a good or service to a change in its price, with "elastic" demand being significantly responsive to price changes.

Least Elastic

Describes a situation where there is the smallest responsiveness of the quantity demanded or supplied to changes in price, typically associated with goods and services for which there are no close substitutes.