Answer:
the definition of a market in determining the price elasticity of demand
Explanation:
In economics, the price elasticity of demand is the measure used to determine the responsiveness and the elasticity of a quantity demanded for a good or a service to increase in the price when nothing but only the price of the product changes. It is the measure to show the demand of a product in relation to the price change of the product.
In the context, Juan Carlos is is filling up a survey regarding the demand or purchasing of toothpaste when the price of the toothpaste changes. Thus this is important to study the price elasticity of demand of a product in the market economy.
Answer: The Exchange View
Explanation: The Exchange View of individualized leadership focuses on the concept of exchange, where leaders typically tend to establish exchange relationships with individuals who have characteristics similar to those of the leader.
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