Assume the Market in the Graph Shown Was Originally at Equilibrium

question 70

Multiple Choice

Assume the market in the graph shown was originally at equilibrium where demand (D) and supply (S) intersect. However, something causes the demand to shift to D₂. What could have caused such a shift?

• A) The good became more popular with consumers.
• B) Consumers expected the price of the good to drop in the near future.
• C) The good became cheaper to produce.
• D) Substitutes for this good became less expensive.

Understand the expectancy theory of motivation, including the roles of expectancy, instrumentality, and valence in influencing motivation.

Comprehend goal-setting theory, how goal specificity and difficulty affect performance, and the importance of participatory goal setting.

Recognize the psychological and behavioral responses to perceived inequities in the workplace and strategies for addressing them.

Understand the impact of performance-contingent rewards on motivation and how managers can use them to influence motivation positively.

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Definitions:

Psychological Aggression

Forms of abuse that involve the use of verbal or non-verbal communication with the intent to mentally harm or exert control over another individual.

Permissive Parenting

A parenting style characterized by low demands with high responsiveness, where parents are lenient and often only step in when necessary.

Warm

Exhibiting kindness, friendliness, and empathy towards others.

Responsive

The quality of reacting quickly and positively to changes, requests, or stimuli.