$\text { Exhibit 3-7 Demand and supply curves }$ In Exhibit 3-7, If Price Happened to Currently Be $75

question 169

Multiple Choice

$\text { Exhibit 3-7 Demand and supply curves }$
In Exhibit 3-7, if price happened to currently be $75 in this market, a _______ would result, causing a __________ in price.

• A) shortage; increase
• B) shortage; decrease
• C) surplus; increase
• D) surplus; decrease

---

Definitions:

Innovation

Combination of new or existing ideas to create marketable value.

Multidomestic Strategy

A strategy used by companies to tailor products and marketing strategies to suit local preferences and conditions.

Transnational Strategy

A corporate strategy that involves operating in multiple countries, combining global coordination to achieve efficiency with flexibility to adapt to local market conditions.

Autonomy to Adapt

The ability of an entity, such as an organization, to independently adjust or modify its functions and processes in response to environmental changes or internal demands.