An Increase in the Demand for a Good Means That

question 68

Multiple Choice

An increase in the demand for a good means that

• A) the demand curve has shifted to the left.
• B) the good's price has fallen and, as a result, consumers are buying more of the good.
• C) the good has become scarce.
• D) consumers are willing to purchase more of the good at each possible price.

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Definitions:

Productivity

A measure of the efficiency of production, often quantified as the ratio of outputs to inputs in a production process.

Operations Manager

A role responsible for overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods and services.

OM Function

Operations management function, which involves the responsibility for planning, organizing, and supervising the processes that produce a company's goods or services.

Money Transfers

The process of moving funds from one account or individual to another, through various methods such as electronic transfers, wire transfers, or checks.