-Scooters and Bicycles Are Substitutes

question 14

Multiple Choice

-Scooters and bicycles are substitutes.Suppose that the price of a bicycle falls.Which of the figures above best illustrates how this fall in price affects the demand curve for scooters?

• A) Figure A
• B) Figure B
• C) Figure C
• D) Figure D
• E) None of the above answers is correct because the change in the price of a bicycle will affect the supply curve not the demand curve.

---

Definitions:

Core Competencies

Unique abilities or strengths of an organization that provide competitive advantage and cannot be easily imitated by others.

Target Markets

These are specific groups of consumers or organizations a business aims to serve or sell its products and services to.

SWOT Analysis

A strategic planning tool that assesses an organization's strengths, weaknesses, opportunities, and threats.

Internal Issues

Problems or challenges that arise within an organization, affecting its functioning or performance.