If the Price of Tangerines Increases, the Price of Oranges

question 2

Multiple Choice

If the price of tangerines increases, the price of oranges also rises because

• A) buyers' incomes must have decreased and oranges are an inferior good.
• B) consumers consider the two goods complements and so sellers decrease the supply of oranges.
• C) if the supply of tangerines decreases, then the supply of oranges also must decrease.
• D) consumers consider the two goods substitutes and demand for oranges increases.
• E) buyers must have expected a higher price for oranges and thus increased their demand for oranges.

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Definitions:

Subcultures

Subgroups within a larger culture, each with distinctive values, norms, and practices.

Rituals

Practices or ceremonies that are a repeated part of a culture or organization's traditions.

Socialization Steps

The process through which individuals learn and adopt the norms, values, and behaviors necessary to function in a given society or organization.

Strong Cultures

Organizational cultures characterized by deeply ingrained norms, values, and behaviors that are widely shared and strongly upheld by members, guiding their actions and decisions.