According to the Equity Theory, Inputs Include All of the Following

question 44

Multiple Choice

According to the equity theory, inputs include all of the following EXCEPT

• A)education.
• B)experience.
• C)effort.
• D)loyalty.
• E)money.

---

Definitions:

Price Elastic

Refers to the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.

Demand Schedules

A table that shows the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Price Elasticity

The degree to which consumer demand for a product reacts to shifts in its price, showcasing the level of consumer sensitivity to pricing alterations.

Long Run

A period in which all inputs, including physical capital and labor, can be fully adjusted, allowing for analysis of equilibrium and efficiency without the constraints of fixed factors.