Which of These Is the Number One Strategy Employed by Small

question 76

Multiple Choice

Which of these is the number one strategy employed by small businesses for handling money shortages?

• A)Borrowing
• B)Using personal money
• C)Adjusting scheduled purchases
• D)Laying off employees

---

Definitions:

Elastic

A characteristic of a demand or supply curve which shows a high responsiveness to changes in price.

Inelastic

Refers to a condition in which the demand or supply of a product or service remains largely unaffected by variations in its price.

Pure Monopolist

A market scenario where a single company or entity exclusively controls the entire supply of a particular product or service, without any close substitutes or competition.

Socially Optimal

A condition or outcome that maximizes societal welfare, considering both efficiency and equity among members of society.