A Change in the Price of Resources Will Cause

question 115

Multiple Choice

A change in the price of resources will cause:

• A) a movement along the positively sloped portion of the aggregate supply curve.
• B) the vertical portion of the aggregate supply curve to shift.
• C) the positively sloped portion of the aggregate supply curve to shift.
• D) the entire aggregate supply curve to shift.

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Definitions:

Customer Order Cycle

The total amount of time it takes from the moment a customer places an order until the product is delivered, including processing, production, and shipping.

Replenishment Cycle

The process and frequency with which inventory is reordered and restocked to maintain sufficient levels.

Order Arrival

The process or moment when a customer's order reaches the seller or when inventory is received by a company from suppliers.

Retail Sale

The selling of goods and services directly to the consumer for personal use, not for resale.