Which of the Following Statements Is Correct

question 161

Multiple Choice

Which of the following statements is correct?

• A)An increase in the supply of other factors, such as capital, will increase the demand for labor.
• B)Labor-saving technology will increase the demand for labor.
• C)Labor-augmenting technology will decrease the demand for labor.
• D)A decrease in the price of output will increase the demand for labor.

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Definitions:

Implied Demand Uncertainty

The anticipated variation in customer demand, influencing inventory levels, production planning, and capacity decisions.

Forecast Error

The difference between actual demand and forecasted demand, indicative of the accuracy of demand forecasting efforts.

Marketing and Sales Strategy

The comprehensive plan comprising tactics and methods used by a business to promote, sell, and distribute its products or services.

Strategic Fit

The alignment between an organization's strategy and its external environment, as well as its internal resources and capabilities.