Which of the Following Statements Is Correct

question 130

Multiple Choice

Which of the following statements is correct?

• A) The demand for New Balance shoes is more elastic than the demand for shoes in general.
• B) The demand for salt is very elastic.
• C) The demand for luxuries is less elastic than the demand for necessities.
• D) The demand for a narrowly defined good is less elastic than the demand for a more broadly defined good.
• E) The larger the proportion of income spent on a good, the smaller the elasticity of demand.

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Definitions:

Friendliness

The quality of being friendly; exhibiting warmth and approachability in interactions with others.

Management by Objectives (MBO)

A performance management approach where managers and employees set specific, measurable objectives together and regularly review the progress.

Total Commitment

The state of being completely dedicated to a task, project, or organization, often exceeding basic expectations.

Employee Objectives

Specific, measurable, achievable, relevant, and time-bound goals set for employees to focus their efforts towards organizational success.