Resistance to Change Potentially Engages People to Think About the Change

question 1

True/False

Resistance to change potentially engages people to think about the change strategy and process.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, as opposed to normal goods, where demand increases with income.

Normal Good

A good for which demand increases as the income of consumers increases.

Price Elasticity

measures how much the quantity demanded of a good responds to a change in the price of that good.

Elastic

Refers to a situation where the demand or supply for a product or service significantly changes in response to price changes.