The Demand for Oranges Increases While the Supply Decreases

question 8

Multiple Choice

The demand for oranges increases while the supply decreases.The equilibrium price of oranges ________,and the equilibrium quantity ________.

• A)rises;decreases
• B)does not change;perhaps changes but we can't say if it increases,decreases or stays the same
• C)falls;perhaps changes but we can't say if it increases,decreases or stays the same
• D)falls;increases
• E)rises;perhaps changes but we can't say if it increases,decreases or stays the same

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Definitions:

Marketplace

A physical or digital space where buyers and sellers interact to exchange goods, services, or information.

Target

An objective or goal that an individual or organization aims to achieve within a certain timeframe.

Analyzer Strategy

A business approach where a company carefully monitors its competitors' successful innovations and then follows suit, trying to improve upon them.

Strategy Formulation

The process of creating strategies, identifying the resources needed and the steps to be taken to achieve a specific organizational goal or objective.