The Supply of a Good Is Said to Be _____

question 9

Multiple Choice

The supply of a good is said to be _____ when a small percentage increase in the price of the good leads to a proportionally larger change in the quantity supplied.

• A)inelastic
• B)elastic
• C)unit elastic
• D)perfectly inelastic
• E)perfectly elastic

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Definitions:

Performance Bonus

Additional financial compensation awarded to employees based on an evaluation of their work performance, often related to achieving specific targets or goals.

Gainsharing

A reward system where employees receive financial benefits from improvements in the company’s performance, encouraging collaboration and efficiency.

Gainsharing

A compensation strategy where employees receive bonuses based on the savings or gains achieved by their performance improvements, fostering collaboration and efficiency.

Gainsharing

A performance-based compensation strategy where employees are rewarded for contributing to improved operational efficiency, leading to cost savings which are shared with employees.