If Supply Decreases and the Price Doesn't Change, There Will

question 47

Multiple Choice

If supply decreases and the price doesn't change, there will be a

• A)surplus.
• B)both a shortage and a surplus.
• C)shortage.
• D)neither a shortage nor a surplus.

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Definitions:

Order Filling

The process of completing a customer's order, from picking and packing the items to shipping them.

Product Margin

Product margin refers to the difference between the selling price of a product and the cost of goods sold, representing the profit made on each product sold.

Activity-Based Costing

A pricing approach that allocates overhead and indirect expenses to corresponding products and services according to the activities involved.

Time-Driven

A term that refers to processes or methodologies that are controlled or measured based on time, such as time-driven activity-based costing.