Use the Following to Answer Questions

question 195

Multiple Choice

Use the following to answer questions .
Exhibit: Simultaneous Shifts in Demand and Supply
-(Exhibit: Simultaneous Shifts in Demand and Supply) D₁ and S₁ are original supply and demand curves, and S₂ and D₂ are new curves. In this market for a normal good, the shift in the demand curve may have been a result of:

• A) a decrease in the price of a substitute good.
• B) a decrease in the number of buyers.
• C) falling incomes.
• D) consumers' expecting the price to go up.

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Definitions:

Horizontal Specialization

A division of work in an organization where tasks are divided among employees on the same hierarchical level, based on expertise or functional areas.

Departmentation

The process of dividing an organization into different departments, which allows for specialization and a more organized structure in managing functions and tasks.

Vertical Specialization

An organizational structure method where tasks and responsibilities are clearly delineated and distributed based on hierarchy, ensuring clear lines of authority and specialization.

Procedure

A set method or way of doing something, especially in a systematic or established form.