When a Particular Item Is in Short Supply Accompanied by Rising

question 7

Multiple Choice

When a particular item is in short supply accompanied by rising prices, a firm might find it beneficial to:

• A) Discontinue buying the product and focus more on cheaper products.
• B) Align itself with one of the suppliers to ensure a continued supply of the scarce item.
• C) Purchase the item from a manufacturer who cuts corners and provides a product below market price.
• D) All of these

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Definitions:

Adult Personality

Characteristics and patterns of thought, emotion, and behavior that are established during adulthood.

Ego

In Freud’s structural model, the part of personality that considers external reality while mediating between the demands of the id and the superego.

Instinctual Influences

Innate, biological drives or motivations that impact human behavior and decision-making, often operating outside of conscious awareness.

Neo-Freudian Theorist

Psychologists who have adapted and expanded upon Sigmund Freud's original theories of psychoanalysis while incorporating their own beliefs about the human psyche and behavior.