Officers in the US Military Have No Control Over Employee

question 56

Multiple Choice

Officers in the US military have no control over employee pay.It is all based on time of service and rank.The military uses medals and ribbons to acknowledge excellence.The medals are an example of the inducement

• A)pay.
• B)job security.
• C)benefits.
• D)career opportunities.
• E)status.

---

Definitions:

Elastic Demand

A situation in which the quantity demanded of a product changes significantly in response to changes in its price.

Luxury Good

High-quality products or services that are not necessary for survival but are purchased for their extravagance or pleasure.

Specific Brand

A unique identification or name for a particular product that differentiates it from others within the same category.

Price Elasticity of Supply

A measure of how much the quantity supplied of a good responds to a change in the price of that good, with elasticity differing across products.