In Many Value Chains, an Organization Must Have the Ability

question 144

Multiple Choice

In many value chains, an organization must have the ability to educate ________.

• A)internal partners only
• B)external partners only
• C)only its own employees
• D)both internal and external partners

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.

Surplus

A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.

Shortage

A market condition where the demand for a good exceeds its supply at a specific price, often leading to price increases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.