FIGURE 3- 6 -Refer to Figure 3- 6. If the Demand Curve Shifts

question 91

Multiple Choice

FIGURE 3- 6
-Refer to Figure 3- 6. If the demand curve shifts from D1 to D2, while supply remains at S1, one could say that

• A) there has been an increase in demand for X.
• B) the price of a good which is a substitute for X must have fallen.
• C) there is now an excess demand at the new price of P1.
• D) the price increase has caused an increase in quantity demanded.
• E) the quantity demanded has decreased to Q1 and price has fallen to P2.

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Definitions:

Global Leadership

The skill or ability to influence individuals, groups, and organizations from various countries and cultural backgrounds to achieve a common goal or objective.

Contextual Elements

Factors or components that influence the setting or environment of a situation.

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The capabilities required to lead and manage across cultures and borders, encompassing strategic thinking, adaptability, and understanding of global market dynamics.