When a Hurricane Destroys a Significant Portion of an Apple

question 101

Multiple Choice

When a hurricane destroys a significant portion of an apple crop:

• A) apple prices rise, and quantity sold rises.
• B) apple prices decline, and quantity sold falls.
• C) apple prices rise, and quantity sold falls.
• D) apple prices decline, and quantity sold rises.

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Definitions:

Top Managers

The president and other top executives of a business, such as the chief executive officer (CEO), chief financial officer (CFO), and chief operations officer (COO), who have overall responsibility for the organization.

Middle Managers

Those members of an organization responsible for the tactical planning that implements the general guidelines established by top management.