If Price (P) and Quantity (Q) Are Directly Related, This

question 126

Multiple Choice

If price (P) and quantity (Q) are directly related, this means that

• A) a change in Q will alter P, but a change in P will not alter Q.
• B) if P increases, Q will decrease.
• C) if P increases, Q will also increase.
• D) an increase in P will cause Q to change, but the direction in which Q changes cannot be predicted.

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Definitions:

Performance Criteria

The standards or benchmarks used to assess the quality or success of a task, project, or performance.

Human Capital

The collective skills, knowledge, and expertise that employees contribute to an organization's value.

Productivity

A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Extrinsic Benefits

Advantages or rewards received from an activity that are external to the activity itself, such as money, grades, or recognition.