When There Few Close Substitutes Available for a Good, Demand

question 111

Multiple Choice

When there few close substitutes available for a good, demand tends to be

• A)perfectly inelastic.
• B)perfectly elastic.
• C)relatively inelastic.
• D)relatively elastic.

Describe the role and steps involved in operations management.

Distinguish between examples and non-examples of transnational firms.

Understand the implications of product life cycle stages on operations management strategies.

Know the definition and role of Multinational Corporations (MNCs).

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Definitions:

Paracrine Signals

Local chemical signals released by cells that affect other nearby cells, playing a key role in cell communication.

Relaxin

A hormone involved in pregnancy, childbirth, and menstruation, known for its ability to relax muscles and ligaments.

Connective Tissue

A type of body tissue that supports, protects, and gives structure to other tissues and organs in the body.

Ovaries

Female reproductive organs that produce ova (eggs) and secrete hormones such as estrogen and progesterone.