Figure 3-8

question 33

Multiple Choice

Figure 3-8
-Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D₁ and S₁ (point A) . If there is a shortage of apples, how will the equilibrium point change?

• A) The equilibrium point will move from A to B.
• B) The equilibrium point will move from A to C.
• C) There will be no change in the equilibrium point.
• D) The equilibrium point will move from A to E.

Identify the characteristics of successful entrepreneurs and entrepreneurial educators.

Understand the importance of a long-term perspective and adaptability in entrepreneurship.

Analyze the role of entrepreneurship in social and economic equality.

Understand the contributions of entrepreneurs to philanthropy.

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Definitions:

Thinking Patterns

The habitual ways in which an individual processes information, perceives situations, and makes decisions.

Spouses

Legally married partners or significant others in a committed relationship.

Remarry

The action of getting married again after a previous marriage has ended, either through divorce or the death of a spouse.

Marry

To enter into a legally recognized union with someone, typically as recognized by law or custom, establishing a partnership that is intimately and socially acknowledged.