Which of the Following Factors Is Most Likely to Impact

question 25

Multiple Choice

Which of the following factors is most likely to impact the need for retraining employees?

• A) Changing customer needs
• B) Supervisors' interests
• C) Employee personality characteristics
• D) Economies of scale

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Definitions:

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Perfectly Competitive Firm

A company that sells a product for which there are many sellers and buyers, and where its product is identical to that of competitors, meaning it has no control over market price.

Marginal Revenue (MR)

The extra income a company earns by selling an additional unit of a product or service.

Demand Curve

A visual depiction of how the demand for a product or service correlates with its price over a specific time frame.