A Change in Price of a Good or Service Typically

question 26

Multiple Choice

A change in price of a good or service typically causes _______ for that specific good or service.

• A) a new equilibrium price
• B) a change along the supply curve
• C) the supply curve to shift
• D) a decreased demand

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Definitions:

Larger Orders

Purchases made in quantities significantly above the normal order size, often resulting in volume discounts or special handling.

Organizational Buying Behavior

Refers to the purchasing behavior and decision-making process of organizations, focusing on how companies acquire products and services for operational, manufacturing, or reselling purposes.

Fewer Customers

Fewer customers indicates a reduction in the number of individuals or entities purchasing from a business, which can impact sales and profitability.

Nonprofit Organization

An entity that operates for the promotion of a public or social benefit rather than for the profit or gain of its owners or investors.