The Income Elasticity of Demand for Caviar Tends to Be

question 302

Multiple Choice

The income elasticity of demand for caviar tends to be

• A)high because caviar is relatively expensive.
• B)low because caviar is packaged in small containers.
• C)high because buyers generally feel that they can do without it.
• D)low because it is almost always in short supply.

---

Definitions:

Job Content

The specific duties, tasks, and responsibilities that make up an individual's job role.

Acquired Needs Theory

A psychological theory that suggests human needs can be acquired or learned through life experiences.

Need For Power

A psychological drive that expresses itself in the desire to control or influence others.

Felt Positive Equity

A perception by individuals that their ratio of contributions to rewards in a relationship or situation is fair and beneficial compared to others.