When There Is a Decrease in Demand

question 29

Multiple Choice

When there is a decrease in demand,

• A)the demand curve shifts to the right of the original demand curve.
• B)the demand curve rotates clockwise.
• C)the demand curve shifts to the left of the original demand curve.
• D)the demand curve rotates counterclockwise.
• E)a lower price has increased the amount of the good that consumers will buy.

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Definitions:

Operations Management

Management's area of responsibility that involves planning and controlling the procedures of production and reengineering business activities in the making of goods or services.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Service Sector

A segment of the economy that involves providing services, as opposed to producing goods, including sectors like retail, healthcare, and education.

Manufacturing Sector

The sector of the economy that is engaged in the production of goods through the processing of raw materials and components into finished products.