Demand and Supply of This Work Group Will Continue to Expand

question 69

Multiple Choice

Demand and supply of this work group will continue to expand.

• A)caucasion.
• B)military veterans
• C)generation y
• D)older workers

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Definitions:

Competitive Economy

An economic system where many firms compete to sell their goods and services, with minimal barriers to entry and exit.

Elasticity Of Demand

An indicator of the sensitivity of demand for a product to fluctuations in its price.

Marginal Cost

The additional total expense that results from the creation of one more unit of a product or service.

Monopoly Power

The ability of a single seller to control prices and total market supply in an industry.