An Increase in the Price of Crude Oil,a Basic Input

question 53

Multiple Choice

An increase in the price of crude oil,a basic input into the production of gasoline,is likely to

• A)put downward pressure on the price of gasoline.
• B)put upward pressure on the price of gasoline.
• C)decrease the demand for gasoline.
• D)increase the quantity of gasoline demandeD.

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Definitions:

Functional Departmentation

The process of grouping activities into departments based on similar functions or expertise, such as marketing or finance, within an organization.

Cited Advantage

A specific benefit mentioned or referenced, usually to support an argument or to highlight the superiority of a product, idea, or method.

Functional Departmentation

The organization of a company into departments based on specific functions or tasks, such as marketing, finance, or human resources.

Decentralized

A system of management where decision-making authority is distributed among various levels within the organization, rather than concentrated at a single point.