Perfectly Inelastic Demand Is Represented by a Demand Curve Which

question 98

Multiple Choice

Perfectly inelastic demand is represented by a demand curve which is ________, and relatively inelastic demand is represented by a demand curve which is ________.

• A)downward sloping; vertical
• B)horizontal; downward sloping
• C)vertical; downward sloping
• D)upward sloping; horizontal

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Definitions:

Cultural Views

The perspectives and values shared by a group that influence behaviors, attitudes, and practices.

Implicit Leadership Theory

Implicit Leadership Theory suggests that people have preconceived notions or stereotypes about the traits and behaviors that characterize effective leaders, which influence their perception of leadership.

Trait Approach

A theory of leadership that suggests certain inherited characteristics or personal attributes make a good leader.

Leadership Approach

Refers to the theories and styles adopted by leaders in guiding, influencing, and managing groups or organizations, ranging from autocratic to democratic, transformational to transactional.