Which of the Following Is an Example of a Change

question 42

Multiple Choice

Which of the following is an example of a change being made for efficiency?

• A)A campaign appoints a new manager who better understands the candidate's vision.
• B)A local restaurant adds the ability for customers to order their meals online after numerous requests.
• C)A food manufacturer creates a goal to produce all organic food in the next five years.
• D)An airline retires all the planes that cost the most money to repair every year.
• E)The team in an office restructures so more employees are working toward the company's stated app-based goals.

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Definitions:

Income Elasticity

A measure of how the demand for a good or service changes in relation to a change in income.

Good

A tangible product that satisfies human wants or needs.

Service

An (intangible) act or use for which a consumer, firm, or government is willing to pay.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good, indicating the relationship between goods as substitutes or complements.