Practitioners Agree That the Purpose of ______ Is to "Help

question 9

Multiple Choice

Practitioners agree that the purpose of ______ is to "help an organization understand its behavior and its present situation-what's going on, how it's going on-so that something can be done about it."

• A) feedback
• B) data gathering
• C) interviews
• D) diagnosis

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Definitions:

Inelastic

A term describing a situation in which the quantity demanded or supplied of a good or service is relatively unresponsive to changes in price.

Elastic

Describes a situation in which the demand for a good or service significantly changes in response to changes in price.

Elastic

Describes a situation where the demand for a product or service significantly changes in response to a change in its price.

Price Elastic

Relating to the responsiveness of the demand or supply of a good or service to changes in its price.