In Recent Years the Cost of Producing Wines in Canada

question 207

Multiple Choice

In recent years the cost of producing wines in Canada has increased, largely due to rising rent for vineyards.At the same time, an increasing number of Canadians say they prefer wine to beer.Which of the following best explains the effect of these events on the wine market?

• A)The supply curve has shifted to the left and the demand curve has shifted to the right.As a result, there has been an increase in the equilibrium quantity and an uncertain effect on the equilibrium price.
• B)Both the supply and demand curves have shifted to the right.As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.
• C)Both the supply and demand curves have shifted to the right.As a result, there has been an increase in both the equilibrium price and the equilibrium quantity.
• D)The supply curve has shifted to the left and the demand curve has shifted to the right.As a result, there has been an increase in the equilibrium price and an uncertain effect on the equilibrium quantity.

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Definitions:

Work Teams

Groups of individuals who collaborate towards a common goal, sharing responsibilities and tasks to achieve objectives.

Shared Leadership

A leadership style where control and decision-making responsibilities are distributed among members of a group or team, rather than being centralized in a single leader.

Personal Accountability

The willingness to take responsibility for one’s actions and decisions, accepting the consequences that come with them.

Group Development

The process through which a group evolves over time, typically moving through stages of forming, storming, norming, performing, and adjourning.