Which Price Elasticity Factor Explains Why Inexpensive Items (Such as Toothpicks)

question 76

Multiple Choice

Which price elasticity factor explains why inexpensive items (such as toothpicks) tend to have less elastic demand than expensive goods (like foreign air travel) ?

• A) availability of substitutes
• B) share of budget
• C) definition of a market
• D) necessities

Understand how IT systems (BI, TPS, ERP, etc.) support business operations and decision-making.

Comprehend the economic impact of IT on businesses.

Acknowledge the impact of IT on organizational structure and worker roles.

Understand the differentiation between intraorganizational and interorganizational systems.

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Definitions:

Predisposing Factors

Conditions or attributes that make a person more susceptible to developing a disease or condition.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, often driven by internal or external factors.

Wellness Dimensions

Various facets of well-being, including physical, emotional, spiritual, and social aspects, that contribute to overall health.

Occupational Wellness

A state of satisfaction and fulfillment with one's career or job, which contributes positively to overall health and wellbeing.