An Increase in the Demand for a Product Means That

question 45

Multiple Choice

An increase in the demand for a product means that the:

• A) demand curve shifts to the left.
• B) demand curve shifts to the right.
• C) supply curve shifts to the right.
• D) supply curve shifts to the left.
• E) quantity supplied has increased.

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Definitions:

Outwardly Focused

A perspective or approach that prioritizes external factors and dynamics, such as customer needs, market trends, and the broader community, over internal concerns.

Stakeholders

Individuals, groups, or organizations that have an interest or concern in an organization's activities, decisions, and success, including employees, customers, suppliers, and investors.

Attraction-Selection-Attrition (ASA) Theory

A theory in organizational psychology that explains how organizations tend to attract, select, and retain individuals with similar personalities and values.

Organizational Members

Individuals who are part of an organization, including both management and non-management staff, contributing to its culture, goals, and outcomes.