Use the Following to Answer Questions

question 53

Multiple Choice

Use the following to answer questions:
Figure: Market Changes
-(Figure: Market Changes) Refer to the figures. If these figures represent the market for blue jeans, which figure shows the effect of an increase in the price of denim, a raw material used to make jeans?

• A) Figure A
• B) Figure B
• C) Figure C
• D) Figure D

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Definitions:

Norms

Standards or expectations that are accepted by a group of people dictating what is considered normal behavior within that group.

Organizational Culture

The shared values, beliefs, and norms that influence the way employees think, feel, and behave within an organization.

Learned Values

Values acquired through socialization and experience that influence individual behavior and preferences.

External Adaptation

The process by which an organization or individual adjusts to changes in the external environment to ensure survival and success.