The Labor Force Is Part of the Internal Environment

question 54

True/False

The labor force is part of the internal environment.

Assess the process and importance of exchange in securing cooperation.

Understand the basic concepts of influence and persuasion in negotiation.

Identify the factors that make communication persuasive.

Recognize the role of emotions in negotiation.

---

Definitions:

Elasticity Value

A measure in economics indicating how the quantity demanded or supplied of a good responds to changes in price or income.

Inelastic Demand

A situation in which the quantity demanded of a good or service changes by a relatively small amount in response to a change in its price.

Price Elasticity

An indicator of the extent to which the demand for a product is affected by variations in its cost.

Midpoint Formula

A method for calculating the price elasticity of demand or supply by averaging the starting and ending prices and quantities to estimate the percentage change.