The Following Appeared in a Florida Newspaper a Week After

question 161

Multiple Choice

The following appeared in a Florida newspaper a week after a hurricane hit the state."Floridians are relieved that the storm produced no fatalities but homeowners face weeks, if not months, of rebuilding.Matters are made worse by the soaring prices of plywood and other building materials that always follow in a hurricane's path.Complaints of profiteering and price gouging have not deterred firms from raising their prices by over 100 percent." Which of the following offers the best explanation for the price increases referred to in the article?

• A)The hurricane increased the number of suppliers of building materials.
• B)The hurricane created an artificial shortage of building materials.
• C)The hurricane caused an increase in the demand for building materials.
• D)There was a reduction in supply as firms shipped plywood and other materials to locations not affected by the storm.

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Definitions:

Production Technology

The methods, equipment, and techniques used in the production of goods and services, including advancements that can impact efficiency and output.

Flextime

A flexible work schedule that allows employees to alter their start and end times, offering a better work-life balance.

Work Schedules

The planned hours and days that employees are expected to work, including shifts, rotations, and flex-time arrangements.

Self-Directed Teams

Groups of employees who are given the autonomy to plan, execute, and monitor their tasks with minimal direct supervision.