Exhibit 4-11  Data on Supply and Demand Which of the Following

question 141

Multiple Choice

Exhibit 4-11  Data on supply and demand Which of the following would occur if the government imposed a price floor (support price) of $4 per bushel in the wheat market shown in Exhibit 4-11?

• A) Buyers would want to purchase more wheat than is supplied.
• B) Buyers would not purchase all of the wheat grown.
• C) Shortage of wheat would increase the price of wheat.
• D) Farmers would grow less wheat.

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Definitions:

Communication Network

The structure and methods by which information is transmitted and received among members of an organization or social group.

Policies

Principles or rules that guide decisions and achieve rational outcomes.

Procedures

Established methods or sequences of actions for performing tasks or achieving specific objectives, often documented for consistency and efficiency.

Downward Communication

Messages sent from the upper levels of the organizational hierarchy to the lower levels.