Who Must Possess a General Understanding of Technology and a Specific

question 169

Multiple Choice

Who must possess a general understanding of technology and a specific knowledge of the product for sale?

• A) technology salespeople
• B) programmers
• C) end users
• D) database administrators

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Definitions:

Price Elasticity

A measure indicating the extent to which the demand for a merchandise changes following a price adjustment.

Short Run

A period in economics during which at least one input is fixed and cannot be changed by the firm.

Long Run

A period in which all factors of production and costs are variable and companies can enter or exit an industry.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various price levels at a given time.