Which of the Following Would Not Be a Characteristic of a Good

question 16

Multiple Choice

Which of the following would not be a characteristic of a good with an elastic demand?

• A)The product lacks unique features that differentiate it from competing products
• B)The product is a high percentage of a consumer's total expenditures
• C)The good is an input used to make a product that is sensitive to changes in price
• D)There are many substitutes available for the good
• E)The product has high switching costs

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Definitions:

External Forces

Factors outside an organization that can impact its performance, such as economic conditions, competition, and regulatory changes.

Impact

The effect or influence of one thing on another; the outcome or result of a particular action or event.

System

A collection of interrelated parts working together for a purpose.

Unfreezing Stage

The initial phase in the change process where existing behaviors, norms, attitudes, or practices are challenged to prepare for change.