When the Demand Curve Shifts Rightward and the Supply Curve

question 433

Multiple Choice

When the demand curve shifts rightward and the supply curve shifts leftward, then the equilibrium __________price and the equilibrium quantity __________.

• A) rises; decreases
• B) probably changes but the direction of the change cannot be determined; increases
• C) rises; probably changes but the direction of the change cannot be determined
• D) falls; increases

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Definitions:

Rational-Legal

A concept in sociology that describes a form of governance or organization founded on laws, rules, and procedures rather than on traditional or charismatic authority.

Favoritism

The practice of giving unfair preferential treatment to one person or group at the expense of others.

Nepotism

Favoritism shown to relatives or friends by those in power, often by providing them employment.

Scientific Management

A theory of management that analyzes and synthesizes workflows, with the objective of improving labor productivity.