Suppose Consumer Tastes Shift Toward the Consumption of Apples

question 43

Multiple Choice

Suppose consumer tastes shift toward the consumption of apples. Which of the following statements is an accurate description of the impact of this event on the market for apples?

• A) There is an increase in the quantity demanded of apples and in the supply for apples.
• B) There is an increase in the demand and supply of apples.
• C) There is an increase in the demand for apples and a decrease in the supply of apples.
• D) There is a decrease in the quantity demanded of apples and an increase in the supply for apples.
• E) There is an increase in the demand for apples and an increase in the quantity supplied of apples.

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Definitions:

Stock Verification

The process of checking and confirming the actual inventory quantities on hand match the recorded inventory levels in an organization's system.

Item Classification

involves categorizing items in inventory or production based on certain criteria such as demand frequency, value, or importance to enable more efficient management and control.

Inventory Management

The supervision and control of ordering, storing, and using a company's inventory to minimize costs and meet customer demand efficiently.

ABC Analysis

A method for dividing on-hand inventory into three classifications based on annual dollar volume.