As a Result of an Increase in the Supply of a Good

question 117

Multiple Choice

As a result of an increase in the supply of a good, the equilibrium quantity ________ and the equilibrium price ________.

• A) increases; falls
• B) increases; rises
• C) decreases; falls
• D) decreases; rises

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Definitions:

Business Strategies

Approaches and plans implemented by a business to achieve its goals and secure a competitive position in the market.

Organizational Strategies

Plans or approaches developed by businesses to achieve long-term goals and improve their position in the marketplace.

Multinational Corporation

A firm that has extensive involvement in international business, owning or controlling facilities in more than one country.