A Good Will Have a More Elastic Demand

question 377

Multiple Choice

A good will have a more elastic demand,

• A) the greater the availability of close substitutes.
• B) the more narrow the definition of the market.
• C) the shorter the period of time.
• D) the more it is regarded as a necessity.

Identify barriers to effective performance and how training can address them.

Understand how external requirements (e.g., laws, regulations) influence the need for certain training programs.

Understand the application and utility of Mager and Pipe's decision tree in addressing performance issues.

Recognize what compliance training entails and be able to provide examples.

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Definitions:

Tax Rate

The percentage at which an individual or corporation is taxed, which can vary based on income level, type of income, and jurisdiction.

Deflation

A decrease in the general price level of goods and services, often indicating an economy in decline.

Farmers

Individuals engaged in agricultural activities, aimed at producing food and other crops.

Fed

Short for the Federal Reserve System, it's the central banking system of the United States, responsible for monetary policy.