In Which Statement Is the Term "Demand" Used Correctly? (1)A

question 114

Multiple Choice

In which statement is the term "demand" used correctly? (1) A decrease in the price of airline tickets led to an increase in quantity demanded for airline tickets.(2) A decrease in the price of airline tickets led to an increase in the demand for airline tickets.

• A)neither statement
• B)the first statement only
• C)the second statement only
• D)both statements
• E)more information is needed

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Definitions:

Cross-Training

A training method where employees learn the skills and responsibilities of other positions within their organization, enhancing versatility and workforce flexibility.

Lead Times

The time it takes for an order to be completed from the moment it is placed to its delivery.

Optimum Process

The most efficient and effective method of completing a task or producing a good with the minimum use of resources and time.

Perfect Product

An ideal or flawless product that completely meets the customer's needs and expectations without any defects or shortcomings.