You Are a Member of a Group Given the Three-Week

question 21

Multiple Choice

You are a member of a group given the three-week assignment of finding a company to take operate your company's photocopying and printing operations. You are most likely a member of a

• A) task force.
• B) matrix structure.
• C) project team.
• D) top-management team.

---

Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service, intended to protect consumers.

Market Price

The amount of money a buyer is willing to pay and a seller is willing to accept for a good or service in a competitive market.

Shortage

A market condition in which the demand for a product or service exceeds its supply, often leading to higher prices.

Binding Price Ceiling

A government-imposed price limit on goods or services that is set below the market equilibrium price, leading to shortages.