When Quantity Demanded Has Increased at Every Price,it Might Be

question 10

Multiple Choice

When quantity demanded has increased at every price,it might be because

• A)the number of buyers in the market has decreased.
• B)income has increased,and the good is an inferior good.
• C)the costs incurred by sellers producing the good have decreased.
• D)the price of a complementary good has decreased.

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Definitions:

BPI

Business Process Improvement, a systematic approach to help any organization optimize its underlying processes to achieve more efficient results.

BPR

Business Process Reengineering (BPR) involves the radical redesign of core business processes to achieve dramatic improvements in productivity, cycle times, and quality.

Porter's Five Forces

A framework for analyzing an industry's competitiveness and potential profitability through five forces: competitive rivalry, bargaining power of suppliers, bargaining power of buyers, threat of new entrants, and threat of substitute products.

Web

A system of interconnected documents and resources, linked by hyperlinks and URLs, accessible over the Internet.