Use the Figure Below to Answer the Following Questions

question 71

Multiple Choice

Use the figure below to answer the following questions.
Table 3.5.2
Demand and Supply Schedules for Cups of Coffee each day at CoolU

-Refer to Table 3.5.2.Professor Hyper publishes a new study,showing that coffee raises the test performance of students.Students double their demand for coffee.This change would be represented as a

• A)leftward shift of the demand curve.
• B)rightward shift of the demand curve.
• C)leftward shift of the supply curve.
• D)rightward shift of the supply curve.
• E)movement up along the demand curve.

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Definitions:

Just-In-Time

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Procurement Process

The series of activities undertaken by an organization to acquire goods or services.

Iron Ore

A rock or mineral from which iron can be extracted for commercial use, typically the primary input in steelmaking.

Sourcing Decision

The process of selecting suppliers to provide goods or services needed by a business.