Goods Tend to Be More Elastic in the Short Run

question 148

True/False

Goods tend to be more elastic in the short run than in the long run.

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Definitions:

Organisational

Pertaining to the structure and dynamics of an organization, including its processes, functions, and culture.

Motivation

The internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role, or subject, or to make an effort to attain a goal.

Natural Environment

The physical and biological factors along with their chemical interactions that affect an ecosystem or the earth as a whole.

General Environment

Comprises economic, sociocultural (including demographic patterns), political–legal, technological, and natural environment conditions.