If SA T-Shirt Co

question 27

Multiple Choice

If SA T-Shirt Co. lowers its price from R60 to R50 and finds that students increase their quantity demanded from 400 to 600 T-shirts per month, then the demand for SA T-shirts within this price range is

• A) price inelastic.
• B) price elastic.
• C) unit elastic.
• D) cross elastic.

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Definitions:

Ethical Conduct

Refers to behavior that is consistent with principles of morality or rules of right conduct within a given professional or social setting.

Codes

In the context of communication, codes are systems of signs or symbols used to convert information into a form that can be communicated, understood, and interpreted by others.

Ethical Dilemmas

Situations in which a difficult choice has to be made between two or more actions, each of which could be considered morally right or wrong.

Ethics Training

Training that seeks to help people understand the ethical aspects of decision-making and to incorporate high ethical standards into their daily behaviour.