Which of the Following Could Explain Why the Demand for Table

question 101

Multiple Choice

Which of the following could explain why the demand for table salt is inelastic?

• A)Salt is a luxury good.
• B)Salt is a rare commodity.
• C)Households devote a very small portion of their income to salt purchases.
• D)Salt is a luxury for high-income consumers but a necessity for low-income consumers.

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Definitions:

Level Schedules

A production strategy that aims to maintain a consistent output rate and workforce level, regardless of demand fluctuations.

End Customer Needs

The requirements and preferences of the final consumer that products or services are designed to meet or exceed.

JIT Environment

Just-In-Time environment, a production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs.

Layout Tactics

Strategies used in arranging machinery, equipment, and workforce within an operational area to optimize productivity and efficiency.