If the Price of Roses Increases

question 46

Multiple Choice

If the price of roses increases:

• A)The demand curve for carnations will shift to the right
• B)The demand curve for carnations will shift to the left
• C)The demand curve for roses will shift to the right
• D)The demand curve for roses will shift to the left

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Definitions:

Location Decisions

The process of choosing a geographical site for a company’s operations, facilities, or stores based on factors such as cost, customer proximity, and infrastructure.

Factor Rating Method

A technique used in operations management and decision-making, where various factors are rated and combined to form a composite score for comparing different options or decisions.

Labour Skills

The specific competencies and knowledge that workers possess, which enable them to perform tasks and duties required in their employment.

Education

A structured process of facilitating learning, knowledge, skills, and values through methods like teaching, training, storytelling, and discussion.