If a Good Is a Necessity,it Has ________ Substitutes and Its

question 76

Multiple Choice

If a good is a necessity,it has ________ substitutes and its demand is ________.

• A) poor; elastic
• B) poor; inelastic
• C) many; elastic
• D) many; inelastic
• E) many; precisely unit elastic

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Definitions:

Dynamic Process

An ongoing, ever-changing procedure characterized by activity and progress.

Continuance Commitment

An individual's psychological attachment to an organization, based on the costs they associate with leaving it.

Afford to Leave

The financial capacity or personal situation that allows an individual to exit a job, relationship, or situation without facing significant hardship.

Employee Tendency

The general patterns or propensities of behavior and attitudes exhibited by employees in the workplace.