Which of the Following Statements Is Correct

question 180

Multiple Choice

Which of the following statements is correct?

• A)prices change as soon as the demand for a good changes
• B)prices may take some time to change when demand for a good changes
• C)prices will shift by ten per cent in the short run and by more in the long run
• D)prices sometimes shift but most often they are fixed

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Definitions:

HR Professionals

Individuals specialized in managing and executing human resource functions within an organization.

Critical Environmental Events

Significant occurrences within the environment that have the potential to impact human life, ecosystems, or business operations.

Environmental Analysis Process

A strategic tool used for identifying the internal and external elements that can affect an organization's performance.

Competitive Intelligence

The collection and analysis of information about competitors, market trends, and external environments to support strategic decision-making and maintain a competitive edge.