Examlex
Which of the following is good advice for a team leader that is trying to increase group cohesiveness?
Elastic
Describes a scenario where a small change in price leads to a large change in quantity demanded or supplied.
Inelastic
describes a situation where the demand or supply for a good is not significantly affected by changes in price.
Relatively Elastic
Describes a situation where demand for a product is sensitive to changes in its price, meaning consumers will significantly reduce or increase their demand based on price changes.
Sensitive
Responsive or easily affected by external conditions or stimuli.
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