Sami Nguyen Is Responsible for Two Departments That Continually Set

question 196

Multiple Choice

Sami Nguyen is responsible for two departments that continually set conflicting goals. Sami must get involved in ____ to achieve some sort of balance between those goals.

• A) optimization
• B) maximization
• C) planning
• D) controlling
• E) organizing

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Definitions:

Cross Elasticity

A measure of how the demand for one good responds to a change in the price of another good.

Normal Good

A good for which demand increases as the income of consumers increases, and falls when consumer income decreases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a specified time period.

Income Elasticity

A measure that quantifies the responsiveness of the demand for a good or service to a change in income of the people demanding the good.