A New Technology Is Announced Which Allows Manufacturers to Produce

question 61

Multiple Choice

A new technology is announced which allows manufacturers to produce widgets for less. Widgets are a key input in the production of whatchamacallits. What would we expect to happen to the market for whatchamacallits?

• A)The demand curve would shift left.
• B)The supply curve would shift left.
• C)The demand curve would shift right.
• D)The supply curve would shift right.

---

Definitions:

Internal Users

Individuals within an organization, such as managers and employees, who use the company's financial information for decision-making.

Financial Accounting Standards Board (FASB)

An independent organization responsible for establishing and improving standards of financial accounting and reporting for the private sector in the United States.

Accounting Principles

Guidelines and rules that govern the accounting practices and procedures, ensuring accuracy and consistency in financial reporting.

Fraudulent Acts

Intentional deceptions made for personal gain or harm, involving financial transactions or manipulations.