Assume a Market Is in Equilibrium

question 98

Multiple Choice

Assume a market is in equilibrium. There is an increase in supply, but no change in demand As a result the equilibrium price ________, and the equilibrium quantity ________.

• A) rises; increases
• B) falls; decreases
• C) falls; increases
• D) rises; decreases
• E) rises; does not change

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Definitions:

Employee Relations

The management of interactions between the organization and its employees, aiming to maintain positive working relationships.

Succession Management

Identifying and grooming new leaders to succeed the current ones when they exit, retire, or are deceased.

Outsourcing

The business strategy of hiring external organizations to handle specific business tasks or operations that were previously conducted internally.

HR Surveys

Tools used by human resources departments to gather feedback from employees about job satisfaction, engagement, and organizational policies.