An Inherent Problem for Couples Involved in a Family Business

question 70

Multiple Choice

An inherent problem for couples involved in a family business is that

• A)conflicts in the business tend to carry over into family life.
• B)hours of work may become longer for one person.
• C)uneven division of labor,i.e. ,one person is only responsible for the menial tasks.
• D)some husbands find their masculinity threatened when their wives are better managers.

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Definitions:

Income Elasticity

A measure of how the demand for a good or service changes in relation to a change in income.

Good

A tangible product that satisfies human wants or needs.

Service

An (intangible) act or use for which a consumer, firm, or government is willing to pay.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good, indicating the relationship between goods as substitutes or complements.