When Economists Say the Demand for a Product Has Increased

question 37

Multiple Choice

When economists say the demand for a product has increased, they mean the

• A) demand curve has shifted to the right.
• B) price of the product has fallen, and consequently, consumers are buying more of it.
• C) cost of producing the product has risen.
• D) amount of the product that consumers are willing to purchase at various prices has decreased.

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SCOR Model

The Supply Chain Operations Reference model, a management tool used to address, improve, and communicate supply chain management decisions.

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