Scenario 3.1 Use the Following to Answer the Questions

question 121

Multiple Choice

Scenario 3.1
Use the following to answer the questions.
Meyers' Sporting Goods,a national chain,has been doing business with Soljur Sports,a manufacturer of skateboards,for several years.Recently,it came to the attention of Meyers' financial director that the average cost per Soljur Sports skateboard had substantially increased over that of the previous year.The financial director asked the marketing department if they knew what the Soljur skateboards cost at competing sporting goods stores,to see if they too were likely hit with a higher cost.
The marketing department found that the Soljur skateboards were priced at $15 less in the competing store than at Meyers.The financial director found that Soljur Sports was selling a similar number of skateboards to one of Meyers' competitors for $10 less per skateboard.The attorney for Meyers' Sporting Goods immediately filed a complaint with the Federal Trade Commission.
-Refer to Scenario 3.1.Suppose that a customer has a complaint against Meyers Sporting Goods Stores.He files a complaint with the Better Business Bureau.What action could the BBB take against Meyers if the complaint was substantiated and Meyers did not change the offending practice?

• A)Issue a cease-and-desist order.
• B)Seek a $10,000 monetary penalty.
• C)Issue a warning to consumers through the local newspaper.
• D)Order Meyers to make restitution.
• E)Seek a $5,000 monetary penalty.

Project future geologic changes based on current and past data.

Acquire skills in analyzing and interpreting visual geological data from maps and figures.

Understand the different types of rewards in organizational settings and their impact on employee motivation.

Identify and describe job design strategies that enhance motivation and performance.

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Definitions:

Income Elasticity of Demand

A measure of how the quantity demanded of a good changes in response to a change in consumers' income.

Inferior Good

A type of good whose demand decreases as the income of consumers increases, contrasting with normal goods.

Supply

The total amount of a good or service that is available for purchase at any given price.

Perfectly Inelastic

Describes a situation where the quantity demanded or supplied does not change in response to a price change.