The Supply of ______ Tends to Be More Elastic

question 5

Multiple Choice

The supply of ______ tends to be more elastic.

• A) luxury goods
• B) raw materials
• C) necessary goods
• D) manufactured goods

---

Definitions:

Leadership Style

The approach or manner in which a leader directs, guides, and influences the behavior and work of others in a group or organization.

Situational Leadership

A leadership style that proposes the effectiveness of leadership depends on the situation, with leaders adapting their approach based on the maturity level of the followers.

Leadership Style

The manner and approach of providing direction, implementing plans, and motivating people, varying widely among leaders based on their individual personality, and the culture of the organization.

Product Quality

The degree to which a product or service meets or exceeds customer expectations in terms of durability, reliability, design, functionality, and performance.