Which of the Following Statements Is CORRECT

question 457

Multiple Choice

Which of the following statements is CORRECT?

• A) When demand increases, both the price and the quantity increase.
• B) When demand decreases, the price rises and the quantity decreases.
• C) When supply increases, the quantity decreases and the price rises.
• D) When supply decreases, both the price and the quantity decrease.

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Definitions:

NIH Barriers

Stands for "Not Invented Here" barriers, a term referring to the reluctance or inability of a company to accept or adopt innovations or solutions developed outside its own boundaries.

Organizational Inertias

The tendency of an organization to continue on its current trajectory despite changes in the external environment, often due to resistance to change.

Open Innovation

A business model that encourages collaboration with individuals or companies outside an organization to jointly develop new products or services.

Precise Protocol

A specific, well-defined procedure or set of rules designed to achieve accuracy and efficiency in a particular context.