Americans Are Currently Living Longer Now Than in the Past

question 60

Multiple Choice

Americans are currently living longer now than in the past because of advances in medicine. As a result, the sale of products that meet the needs of older individuals, such as devices that assist in walking and movement, have increased. In the context of an industry's macroenvironment, age is considered which type of force?

• A) Technological
• B) Demographic
• C) Social
• D) Political
• E) Legal

Know the process of indexing, coding, and cross-referencing documents for filing.

Master the final steps in the filing process and the importance of storage.

Identify the essential features and considerations for storing files and choosing storage facilities.

Grasping guidelines for arranging files in alphabetical order.

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Definitions:

Rationing Function

The ability of market prices to allocate scarce goods and services to those who are willing and able to pay for them.

Surplus Goods

Items for which the quantity supplied exceeds the quantity demanded, often leading to price reductions to clear excess inventory.

Competitive Market

A market where numerous sellers compete to sell their goods or services to a large number of buyers, promoting efficiency and innovation.

Law of Demand

The economic principle that there is an inverse relationship between the price of a good or service and the quantity demanded, assuming other factors are constant.