Suppose That It Is Observed That the Price of a Commodity

question 85

Multiple Choice

Suppose that it is observed that the price of a commodity rises and that the quantity sold falls. From this we can deduce:

• A) that the demand curve has shifted to the right, but we cannot deduce whether or not the supply curve has shifted
• B) that the supply curve has shifted to the right, but we cannot deduce whether or not the demand curve has shifted
• C) that the supply curve has shifted to the left, but we cannot deduce whether or not the demand curve has shifted
• D) that the demand curve has shifted to the left, but we cannot deduce whether or not the supply curve has shifted

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Definitions:

Worker Satisfaction

The level of contentment employees feel about their job roles, workplace environment, and organizational policies, influencing their productivity and loyalty.

Increased Output

Refers to the enhancement in the quantity or quality of goods and services produced by an organization.

Physiological Needs

Basic human needs that are essential for survival, such as food, water, shelter, and sleep, as identified in Maslow's hierarchy of needs.

Relay Assembly

A method in manufacturing where components are assembled progressively as they pass along a sequence of workstations.