Prices That Do Not Always Adjust Rapidly to Maintain Equality

question 142

Multiple Choice

Prices that do not always adjust rapidly to maintain equality between quantity supplied and quantity demanded are

• A) administered prices.
• B) sticky prices.
• C) regulatory prices.
• D) market prices.

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Definitions:

Status Quo Leader

A leader who prefers maintaining current conditions or practices within an organization rather than seeking change or innovation.

Proactive

Pertains to taking initiative by acting in anticipation of future problems, needs, or changes rather than reacting to them.

Innovation

The process of introducing new ideas, devices, or methods to enhance processes, goods, or services.

Status Quo Managers

Leaders who prefer maintaining existing conditions or the current state of affairs within an organization, often resistant to change.