When Demand for Goods and Services Drops,businesses Reduce Production,thereby Requiring

question 15

Multiple Choice

When demand for goods and services drops,businesses reduce production,thereby requiring fewer workers.The unemployment resulting because of this phenomenon is known as ________ unemployment.

• A) intrinsic
• B) cyclical
• C) structural
• D) seasonal
• E) frictional

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Definitions:

Business Proposition

An offer or proposal made by a company to a potential customer or partner that outlines the benefits and costs of a business arrangement.

Value Analysis

A methodical approach to examining the functions of goods or services with the purpose of achieving the desired quality at the lowest cost.

Marketing Plan

A comprehensive document or strategy that outlines a company's advertising and marketing efforts for a specific period.

Retailer

A business or person that sells goods directly to consumers, as the final link in the supply chain from manufacturers to end buyers.