Examlex

Solved

Explain the Significance of Virtual Teams

question 46

Essay

Explain the significance of virtual teams.


Definitions:

Demand Curve

A curve showing the relation between the price of a good and the quantity consumers are willing and able to buy per period, other things constant.

Market Demand Curve

A graphical representation that depicts the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Law of Demand

The economic principle stating that as the price of a good decreases, consumer demand for that good will increase, and vice versa, holding everything else constant.

Quantity Demanded

The amount of a good consumers are willing and able to buy per period at a particular price, as reflected by a point on a demand curve.

Related Questions