When consumer demand is sensitive to price changes,__________occurs
Fill in the blanks with correct word.
ANSWER: elastic demand
When consumer demand is sensitive to price changes, elastic demand occurs. Conversely, inelastic demand means that an increase or a decrease in price will not significantly affect demand for the product.
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a. China's one-child policy. b. increased migration to the cities. c. reductions in Chinese interest rates. d. restrictions on Chinese labor unions.
What is a virtual project team and what are two challenges in managing such a team?
Fill in the blank(s) with the appropriate word(s).
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A) product differentiation B) product development C) diversification D) market penetration E) market segmentation
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