Answer:
D. the greater the availability of close substitutes.
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
Goods that are inelastic in demand are usually consumer-essential goods for which there are few substitution options, such as a cancer drug. On the contrary, elastic goods are those whose price variations diminish the demand for a range of substitute goods. For example, if the price of rice goes up, people may demand spaghetti, which is a substitute good.Therefore, goods with a large number of substitutes tend to have price elastic demand.
The step of the decision-making process that is not influenced by the gathering of information and resources is Defining the problem.
Decision-making is the technique of creating picks via identifying a selection, collecting information, and assessing alternative resolutions. Using a step-by using-step decision-making manner will let you make greater deliberate, considerate decisions with the aid of organizing applicable facts and defining options.
Once you've got taken the time to outline your goals, accumulate your statistics, and then examine your distinctive possibilities, the time has come for the most critical step inside the choice-making procedure.
Strategic decision-making is a procedure of understanding the interplay of selections and their impact on the corporation to gain a bonus. Incorrect selections taken at the incorrect time may additionally bring about catastrophic effects.
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In a social program, systematic methods are the resources needed for the program to operate, while evaluations are tangible results of the program process.
<h3>Which kind of methods is commonly used in process evaluations?</h3>
Process evaluation usually uses both quantitative and qualitative methods, that may include structured observations, questionnaires, semi-structured interviews, focus groups and logs.
The four basic kind of evaluation: clinical reviews, clinical trials, program reviews, and program trials. A systematic method for collecting, analyzing, and utilizing data to check the effectiveness and efficiency of programs and, as important, to contribute to continuous program improvement.
Evaluation offers the information necessary to check how well a program or initiative is being implemented and know whether that program is achieving desired results.
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