The Substitution Effect of a Price Change Refers to

question 227

Multiple Choice

The substitution effect of a price change refers to

• A)the change in quantity demanded that results from a change in price making a good more or less expensive relative to other goods that are substitutes.
• B)the shift of a demand curve when the price of a substitute good changes.
• C)the movement along the demand curve due to a change in purchasing power brought about by the price change.
• D)the shift in the demand curve due to a change in purchasing power brought about by the price change.

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Definitions:

Two-Factor Theory

The impact of motivational influences on job satisfaction.

Motivators

Sources of job satisfaction such as achievement, recognition, and responsibility.

Hygiene Factor

Factors related to the work environment that do not necessarily motivate employees but can cause dissatisfaction if missing or inadequate.

Security

Measures and protocols implemented to protect individuals, organizations, or systems from potential threats and risks.