Get Smart University Is Contemplating an Increase in Tuition to Enhance

question 23

Multiple Choice

Get Smart University is contemplating an increase in tuition to enhance revenue.If GSU feels that raising tuition would enhance revenue,they are

• A)ignoring the law of demand.
• B)assuming that the demand for university education is elastic.
• C)assuming that the demand for university education is inelastic.
• D)assuming that the supply of university education is elastic.

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Definitions:

Industrial Policies

Government measures aimed at improving the economic performance and competitiveness of specific sectors within an economy.

Political Factor

Political factors are elements related to government actions and policies that can affect a business's operations and profitability, such as laws, regulations, and political stability.

Competitive Landscape

The dynamic market environment in which businesses compete, including factors such as competitors, customers, and market trends.

PEST Analysis

An analytical framework for assessing external macro-environmental factors influencing an organization, including Political, Economic, Social, and Technological aspects.