Suppose Product X Is an Input in the Production of Product

question 96

Multiple Choice

Suppose product X is an input in the production of product Y. Product Y in turn is a substitute for product Z. A decrease in the price of X can be expected to

• A)decrease the demand for Z.
• B)increase the demand for Z.
• C)have no effect on the demand of product Z.
• D)decrease the supply of Z.
• E)increase the supply of Z.

---

Definitions:

Functions of Management

The essential roles and activities managers engage in to achieve organizational goals, commonly identified as planning, organizing, leading, and controlling.

Management Functions

Outlines the primary tasks and responsibilities of managers, typically including planning, organizing, leading, and controlling.

Coordination

The organization of different elements or activities to enable them to work together efficiently and effectively.

Scalar Chain Principle

A management theory emphasizing a clear and direct line of authority within an organization, from the highest to the lowest ranks.