This Term Refers to the Relationship Between the Change in the Use

question 3

Multiple Choice

This term refers to the relationship between the change in the use of an item and the price of that item.

• A)demand elasticity
• B)displacement
• C)diffusion
• D)balloon effect

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Definitions:

Task Environment

The immediate external factors, including competitors, customers, suppliers, and regulatory agencies, that directly affect how an organization operates.

Regulators

Authorities or bodies that have the power to enforce rules and standards within specific industries or areas.

Environmental Uncertainty

The degree to which an organization lacks information about its external environment, making it difficult to predict future conditions and make informed decisions.

Organisational Designs

The process of shaping an organization’s structure, roles, and networks to effectively manage and coordinate activities towards achieving its objectives.