What Is True About a Management Action That Is Legal

question 21

Multiple Choice

What is true about a management action that is legal?

• A) The action is always ethical.
• B) The action is always unethical.
• C) The action may or may not be ethical.
• D) The action will always benefit the organization.

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Definitions:

Price Inelastic

Describes a situation where the quantity demanded or supplied of a good or service changes minimally in response to price changes.

Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price, income level, or other factors.

Elasticity of Supply

Elasticity of supply measures the responsiveness of the quantity supplied of a good or service to a change in its price.

Shifting Resources

The reallocation of resources from one use to another, often in response to changing economic conditions or priorities.