At a Price of $5, Sam Buys 10 Units of a Product;

question 167

Multiple Choice

At a price of $5, Sam buys 10 units of a product; when the price increases to $6, Sam buys 8 units. Martha says Sam's demand has decreased. Is Martha correct?

• A) Yes, Martha is correct. Sam's demand has decreased.
• B) No, Martha is incorrect. Sam's demand has increased.
• C) No, Martha is incorrect. Sam's quantity demanded has decreased, and his demand has not changed.
• D) No, Martha is incorrect. Sam's quantity demanded has increased, and his demand has increased.

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Definitions:

Task Interdependence

Describes the extent to which tasks in an organization require coordination and cooperation among individuals or teams to complete.

Groupthink

Is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Team Norms

Are shared expectations, behaviors, and standards that guide and regulate the conduct of team members within group settings or projects.

Consensus

A general agreement among members of a group or team, where all individuals support a decision or plan of action.