When There Are Few Substitutes Available for a Good, Demand

question 250

True/False

When there are few substitutes available for a good, demand tends to be relatively inelastic.

Understand the mechanisms through which power is exercised and resisted within organizations.

Identify and explain the different perspectives on equity and inequity in the workplace.

Describe the significance of expectancy theory and how it applies to motivation and performance.

Differentiate between intrinsic and extrinsic factors influencing employee motivation according to Herzberg's two-factor theory.

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Definitions:

Behavioral Contrast

A phenomenon observed in operant conditioning where a change in the reinforcement conditions for one behavior alters the rate of another behavior.

Excitatory Generalization Gradients

Graphs showing the level of generalization from an excitatory conditioned stimulus (CS1) to other stimuli.

Conditioning Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.