Economics Multiple Choice Questions on Elasticity
Multiple Choice Questions: Elasticity
Demand and Elasticity
- The price elasticity of demand ________ in value when moving downward along a ________ demand curve.
- falls; straight
- rises; straight
- rises; curved
- falls, curved
- In general, how a sales tax is divided between buyers and sellers is determined by
- the elasticities of supply and demand.
- who the law says must pay the tax.
- the government’s choice of whom to tax.
- the revenue needs of government.
- In the above figure, who pays the larger share of the tax?
- buyers
- sellers
- Buyers
Sales Force Management: From Recruitment to Compensation
Recruiting Applicants
Internal Resources
Internal resources refer to individuals already employed within the company but working in different departments. Transferring these employees to the sales department can be an effective recruitment strategy.
The HR department is best positioned to identify suitable candidates for sales roles. Their knowledge of employee abilities and performance makes them invaluable in this process.
Advantages of Internal Recruitment:
- Performance records are readily available,
Essential Business Concepts: A Glossary of Terms
Chapter 9: Production Systems
Key Concepts
– Inventory control: Determining the right quantities of supplies and products to have on hand and tracking where those items are.
– Productivity: The efficiency with which an organization can convert inputs to outputs.
– Quality: The degree to which a product or process meets reasonable or agreed-upon expectations.
– Inventory: Goods and materials kept in stock for production or sale.
– Mass production: The creation of identical goods or services, usually in
Read MoreChapter 5: Small Business
CHAPTER 5
2. Which Two Areas of Business Generally Attract the Most Small Businesses? Why Are These Areas Attractive to Small Businesses?
There are two areas of business that generally attract a large number of small businesses: service industries and distribution industries:
- Distribution Industries: This category includes retailing, wholesaling, transportation, and communications. These industries are concerned with the movement of goods from producers to consumers. Of these, almost 3/4 are involved
Principles of Marketing: Key Concepts and Applications
Three Levels of Product
Question: Product planners need to think about products (and also services) on three levels, demonstrate the three levels of product and any accompanying features that might be present at each level.
Answer: Product planners need to think about products (and also services) on three levels:
- Core product: The most basic level, which addresses the question: What is the buyer really buying? This level is at the center of the marketing offer.
- Actual product: Second, the product planner
The Ultimate Guide to Recruitment and Training
External Recruitment
Most vacancies are filled with external recruitment, which always involves advertising the vacancy. Here are some suitable media of advertising:
- Local newspaper: Usually for office and manual workers. These jobs are plentiful since they do not require specialized skills.
- National newspaper: Used to find workers for senior positions that require a high level of skill. It can be read by people anywhere in the country or overseas.
- Specialist magazines: Used for particular technical