A Shift to the Right in the Demand Curve for Product

question 324

Multiple Choice

A shift to the right in the demand curve for product A can be most reasonably explained by saying that

• A) consumer incomes have declined, and consumers now want to buy less of A at each possible price.
• B) the price of A has increased and, as a result, consumers want to purchase less of it.
• C) consumer preferences have changed in favor of A so they now want to buy more at each possible price.
• D) the price of A has declined and, as a result, consumers want to purchase more of it.

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Definitions:

Intrafunctional Scope

Refers to operations or strategies that occur within a single business function or department, focusing on tasks and goals specific to that function.

Supply Chain Strategy

A plan for managing all the resources that go toward meeting customer demand for a product or service, from sourcing raw materials to delivering the final product.

Procurement

The process of obtaining goods or services, often involving tendering or bidding, to fulfill organizational needs.

Functional Strategies

Specific strategies targeting the operations and objectives within a particular business function, such as marketing, finance, or production.