In a Free Market, If the Price of a Good

question 142

Multiple Choice

In a free market, if the price of a good is above the equilibrium price, then;

• A)sellers, dissatisfied with growing inventories, will raise their prices.
• B)buyers, hoping to ensure they acquire the good, will bid the price lower.
• C)the government will set a lower price to reestablish the market equilibrium.
• D)sellers, dissatisfied with growing inventories, will lower their prices.

Identify and analyze group norms.

Recognize the factors that enhance individual performance in group settings.

Understand the dynamics and consequences of groupthink.

Recognize the concept of social facilitation.

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Definitions:

Externalized Moral Component

Aspects of ethics and morality that are expressed outwardly, influencing and reflecting organizational behavior and decisions.

Ethical Climate

describes the shared perceptions of what is ethically correct behavior and how ethical issues should be addressed within an organization or community.

Organization's Ethical Practices

Refers to the policies, standards, and behaviors that guide moral decisions and actions within a business entity.

Dynamic Environment

A constantly changing and evolving setting in which an organization operates, often characterized by unpredictable and rapid changes.