What Do Supply and Demand Curves Have in Common

question 29

Multiple Choice

What do supply and demand curves have in common?

• A) They both usually slope upward.
• B) They both show a relationship between quantity and price.
• C) They both usually slope downward.
• D) They can both shift in response to changes in income or wealth.
• E) Neither of them is influenced by the size of the population.

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Definitions:

Socio-cultural Norms

The shared expectations and rules that guide behavior of people within social groups, influenced by societal and cultural factors.

Group Pressures

The influence exerted by a group on its members to align their behavior, attitudes, or beliefs with the group's norms and values.

Resistance to Change

The act of opposing or struggling with modifications or transformations that alter the status quo of the workplace or organization.

Planned Change Effort

Involves deliberate attempts to improve organizational effectiveness or adapt to external changes through systematic steps and strategies.