There Are Very Few,if Any,good Substitutes for Motor Oil

question 175

Multiple Choice

There are very few,if any,good substitutes for motor oil.Therefore,the

• A)demand for motor oil would tend to be inelastic.
• B)demand for motor oil would tend to be elastic.
• C)demand for motor oil would tend to respond strongly to changes in prices of other goods.
• D)supply of motor oil would tend to respond strongly to changes in people's tastes for large cars relative to their tastes for small cars.

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Definitions:

Progression

The process of developing or moving forward, often evidenced by a series of steps or stages towards a goal.

Job Simplification

Employing people in clearly defined and specialized tasks with narrow job scope.

Tardiness

The act of being late or delaying arrival beyond the expected or scheduled time.

Absenteeism

The habitual non-presence of an employee at their job, which can be voluntary or involuntary, and often affects productivity.