During a recession, median income falls by 15%. If the demand for grapes falls by 12%, grapes are a normal good with an income elasticity of demand of 0.8.
To find the income elasticity of demand follow this equation:
income elasticity of demand = change in demand/change of income
income elasticity of demand = 0.12/0.15 = 0.8
Grapes are a normal good because the income elasticity of demand is greater than zero.
Answer: B. Strategic objective.
Explanation:
Strategic objectives are goals one is trying to achieve within a specified time frame say 2-4 years. It indicates what is important or critical to an organization.
Answer:
C.
Explanation:
Market Orientation refers to a business approach that focuses on what the customers want and need and then creating the products to satisfy them. Therefore based on the information provided in this question it can be said that the likeliest answer is that Leyton Electronics Inc. satisfies its customers' wants and needs legally and responsibly.
Answer:
If an incident is too large or too complex and it exceeds the span of control of one single Incident Commander, the ICS may appoint staff positions, called Section Chiefs to help the Incident Commander oversee different components of the operation. These staff positions include doers (operational staff), thinkers (planning staff), getters (logistics staff) and payers (financial staff).
Explanation:
One of the main principles of the ICS is to limit the span of control of individuals. For example, usually when a supervisor has more than seven people under his/her control, or directly reporting to him/her, the supervisor needs to divide tasks with another supervisor or another person to lower responsibility and span of control.
The reason why the two white or amber colored lights in the rear end of the car are turned on is because when the car is backing up, these lights are represented as the back up lights. It is used in order to alert the cars on the back that the car is about to back up or drive in reverse. It sends them the alert to know that they should stop or back up when the car is about to drive in reverse.
