An Increase in the Number of Consumers in a Market

question 162

Multiple Choice

An increase in the number of consumers in a market would cause

• A) an increase in quantity demanded.
• B) an increase in quantity supplied.
• C) an increase in demand.
• D) an increase in supply.

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Definitions:

Just-In-Time

An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Inventory Systems

are methodologies and procedures used by businesses to track, manage, and plan for current and future inventory and stock levels.

Working Capital Accounts

Accounts related to the short-term financial operations of a business, such as cash, inventory, and accounts payable and receivable.

Accounts Receivable

Funds that customers owe to a company for products or services provided but not yet compensated for.