Answer:
The answer is D. The change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power
Explanation:
Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.
For example, if the price of Pepsi were to rise, the substitution effect would cause the consumer to buy less of it and substitute more coca-cola for now relatively more expensive Pepsi.
Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).
<u>Answer:</u>
The correct answer for this is 'non price competition'.
<u>Explanation:</u>
When a real estate agent says the three most important factors when buying a property are “location, location, location,” the agent is referring to one of the forms of non price competition.
Non-price competition is a type of competition where two or more than two producers use factors like customer service, packaging or delivery rather than the price to increase the demand of the product or service.
Here, location is used as a non-price competition to increase the demand.
Answer:
E. It may encourage a sense of entitlement among employees.
Explanation:
Above the market, compensation in the form of wage strategy in which the organizations initiates high salaries to the employees. High salaries are provided to the employees to attract them and to retain them in the team. This is done to maintain the caliber of the group and for the smooth flow among the team members.
